KfW sells 63.3 mln Deutsche Post shares at 15.79 eur/shr
The state development bank Kreditanstalt fuer Wiederaufbau (KfW) said yesterday evening that it has sold 63.3 mln Deutsche Post World Net AG shares, or a 5.7 pct stake, for 15.79 eur/shr in a placement among institutional investors, managed by Deutsche Bank and and Morgan Stanley.
The placement was more than two times oversubscribed and generated around one bln eur.
KfW’s stake in Deutsche Post now falls to 36.9 pct, while the mail and logistic group’s freefloat rises to 43.10 pct from 37.4 pct previously.
The greenshoe, or overallotment, option of 15 pct, will be exercised, the KfW said.
The German government has a 20 pct holding in Deutsche Post.
