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RWE generates 96 million euros from greenshoe option
A total of 12,626,200 shares was allocated to investors via an over-allotment option as part of the IPO of innogy. In connection with this over-allotment, RWE Downstream Beteiligungs GmbH had also granted a greenshoe option which was exercised today for 2,668,315 shares, or by about 21.1 percent, which terminates the stabilisation period. By way of a greenshoe option, e.g. an existing shareholder enables the underwriting banks to purchase up to a predetermined maximum number of additional shares at their issue price after the initial issuance.
Therefore, RWE’s proceeds from the sale of shares in innogy total €2.6 billion (including €0.096 billion from the exercise of the greenshoe option). At the beginning of October, RWE had successfully placed 70,707,000 innogy shares on the market from its holdings for approximately €2.5 billion as part of the innogy IPO. Following the exercise of the greenshoe option, RWE now holds a 76.8 percent stake in innogy.
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