Wacker Chemie

Wacker Chemie generated a gross proceeds of roughly €170 million in the third quarter by selling a further 2.2 million Siltronic shares at €77.25 each and had already sold 2.1 million shares at €89.35 in May. Operationally, however, the company still needs to demonstrate that sustainable profit increases are possible beyond the one-off gains. Technically, the stock has moved from a downtrend to a sideways range between about €85 (support, 200-day line) and €96 (resistance), so the short-term downward pressure appears to be quelled for now. » Plus sur finanzen.net

WACKER CHEMIE has cut its holding in Siltronic from 21.67 to around 15 percent and placed roughly 2.2 million shares at €77.25 each with qualified international investors in an accelerated bookbuilding. The company expects gross proceeds of about €171 million from the transaction, which are to be invested in future growth. WACKER remains a significant shareholder and has committed not to sell any further Siltronic shares within the next 90 days; Siltronic shares fell, while WACKER shares traded higher. » Plus sur finanzen.net

Wacker Chemie sold 2.2 million Siltronic shares at €77.25 each in a private placement via accelerated bookbuilding to qualified and international institutional investors. Gross proceeds amount to around €171 million, representing 6.7 percent of share capital, reducing Wacker’s stake in Siltronic to about 15 percent. CEO Christian Hartel said the proceeds strengthen the financial position and create room for future growth. » Plus sur finanzen.net