Hess completes IPO on second try

Hess, a German lighting company, on Tuesday successfully completed a €41m IPO at the second attempt, pricing at the bottom of a range that was revised when the initial bookbuilding period failed to secure enough orders.

  • 24 Oct 2012
The company sold 2.3m new shares, 47% of the expanded share capital, in the base deal at €15.50 each, 22.5% below the bottom of the original range of €20.00-€23.00 a share, and the bottom of the revised €15.50-€18.50 range. There is a 0.345m share secondary greenshoe, which would ...

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