European insurance giant Talanx has initiated a €300m capital raising effort aimed at expanding its free float.
The move is part of the firm’s strategic plan to bolster the liquidity of its shares and solidify its standing in equity indices.
Talanx’s strategic manoeuvre represents a calculated step towards strengthening its position in the market and expanding its investor base.
Dr Jan Wicke, Talanx AG’s CFO, commented: “This move is our response to repeated requests from investors to increase Talanx’s free float and to lay the foundations for improving the shares’ trading liquidity.
“In addition, it will strengthen the position of Talanx’s shares in a number of equity indices. This is a positive step for our stock’s future performance. All in all, it means we are laying the foundations for more investors to invest in our shares.”
Talanx intends to augment its share capital by issuing new no-par value registered shares against cash contributions, employing a simplified process that excludes existing shareholders’ subscription rights.
HDI V.a.G., Talanx’s majority shareholder, has also expressed its intention to divest additional shares of the European insurer worth up to €100m, and further enhance the firm’s free float.
HDI V.a.G.’s willingness to reduce its ownership underscores the company’s commitment to enhancing trading liquidity and market accessibility.
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