Siltronic Greenshoe Option Fully Exercised
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With the greenshoe in its initial public offering fully exercised by June 15, former Wacker-Chemie subsidiary Siltronic is now to 42.2% in free float. Total proceeds from the placement of 12.7 million shares, including the overallotment, exceeded €379 million.
Siltronic, the world's third-biggest maker of silicon wafers for semiconductor chips, behind Japanese rivals Shin-Etsu Handotai and Sumco, cashed in €150 million from the share sale, with Wacker receiving €230 million.
Debuting at €30 per share, the electronics company was trading at €33.755 on Jun. 16.
