Chinese company strategic anchor in Heidelberg

Heidelberg has completed a cash capital increase with Chinese company Masterwork Group expanding its stake in the German printing equipment manufacturer to 8.5 per cent.

Heidelberg says a cash capital increase of 25,743,777 shares from authorised capital has now been completed which will result in the company receiving a pre-transaction cost inflow of 69 million euros ($A110m).

The company’s new share capital has been increased to 779,466,887.68 euros ($A1.2b).

“The capital increase has gained Heidelberg another strategic anchor shareholder with a long-term investment horizon that now holds around 8.5 percent of the company’s shares,” Heidelberg said in a statement.

“Taking the collaboration with Masterwork, which dates back to 2014, to the next level is also designed to open up further potential in the growing packaging printing segment, especially in China – the world’s largest individual market.

“As well as improving shareholder’s equity, the new funds are primarily to be used to accelerate the company’s digital agenda (digitizing products, processes, and business models, for example) and for general business financing.”

The capital increase amounts to around 9.2 per cent of the existing share capital with the cash capital increase decided on by the management and board of Heidelberger Druckmaschinen AG (Heidelberg) in March 2019.

The agreed issue price was 2.68 euros per share. The company’s new share capital has been increased to €779,466,887.68 ($A1.2b), distributed across 304,479,253 no-par shares.


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