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Knorr-Bremse accelerates IPO on strong investor demand

German braking systems developer Knorr-Bremse AG plans to close its IPO sooner than planned after strong demand from investors.

The offering will now close Oct. 10, instead of Oct. 11 as previously planned, and the offer price, the number of shares to be offered and their allocation will be finalized on the same day. Knorr-Bremse had set a price range of €72 per share to €87 per share for the IPO.

The shares will begin trading on the Frankfurt Stock Exchange on Oct. 12. The settlement and completion of the IPO is planned for Oct. 16.

Deutsche Bank AG, J.P. Morgan Securities PLC and Morgan Stanley & Co. International PLC are serving as joint global coordinators and joint book runners on the IPO. Joh. Berenberg Gossler & Co. KG, Commerzbank AG, UBS Ltd. and UniCredit Bank AG are joint book runners.