JOST goes public

JOST Group has listed the shares of its holding company, JOST Werke, on the regulated market (Prime Standard) of the Frankfurt Stock Exchange in Germany.

The listing was the result of a private placement to institutional investors, mainly from Europe and North America, through a book building process.

The company issued 4,875,000 new no-par-value bearer shares on July 20, 2017, increasing the numbers of shares held in treasury to 14.9 million. The proceeds from the stock listing amounted to €132 million (ca. $200 million) and were used primarily to repay existing financial indebtedness.

“During the past years, JOST has further strengthened its leadership position of its core systems across key end markets,” said Lars Brorsen, Chief Executive Officer of JOST.

“At the same time, we have successfully integrated our acquisitions and achieved substantial operational improvements. Customers recognise our brands and value our broad quality offerings as well as strong delivery and service performance.

“JOST is well positioned to capitalise on a robust mid-term growth outlook of the truck and trailer markets, in particular in Europe, North America and Asia, which benefit from positive macro and industry dynamics such as regulatory changes in China. We are also investing in the technologies of the future, with autonomous docking and driving systems, which we believe will play a key role for future integrated truck and trailer combinations.”

“Since 20 July our shares are listed on the Frankfurt Stock Exchange, opening a new chapter in JOST's 65-year history,” said Christoph Hobo, CFO of JOST Werke.

“Moreover, thanks to the successful capital increase, we significantly strengthened our balance sheet by reducing our debt. This is a strong foundation on which we can execute our growth plans going forward.”

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