on Steyr Motors AG
Steyr Motors AG Debuts on Frankfurt Stock Exchange
Steyr Motors AG, a leader in customized engines for defense and civilian use, launched successfully on the Frankfurt Stock Exchange's Scale segment. The IPO opened with a market capitalization of EUR 82.7 million. This listing is expected to support profitable growth and expand global sales.
The company placed 1,110,000 shares with institutional investors at EUR 14.00 each, raising approximately EUR 15.5 million. Mutares remains the primary shareholder with 70.9% while B&C Holding Österreich GmbH joined as a significant investor.
In 2024, Steyr Motors forecasts revenue between EUR 41 and 45 million and an adjusted EBIT of EUR 9 to 11 million, supported by a EUR 150 million order backlog. CEO Julian Cassutti expressed optimism about leveraging increased defense budgets globally for expansion.
R. E.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all Steyr Motors AG news