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© siemens Business | October 05, 2017

Siemens sells shares in Osram

German industrial group Siemens has completed the sale of most of its shares in lighting company Osram AG.
"Siemens has completed the sale of 18.155 million ordinary shares in Osram Licht AG, thereby raising gross proceeds of approx. EUR 1.2 billion. The sale followed an accelerated bookbuilt offering to institutional investors only", a press release states.

The now sold share package represents 17.34 percent of Osram Licht AG's issued share capital. The net proceeds from the sale will be used for general corporate purposes.

Siemens will retain a small number of Osram Licht AG shares which are required to service the remaining Siemens bond plus warrant issue due 2019.

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December 13 2017 10:15 PM V8.9.2-2