Schaeffler lists new shares on Frankfurt Stock Exchange following merger with Vitesco
By Bradley Osborne - 15th October 2024
From left: Georg F W Schaeffler, Chairman, Claus Bauer, CFO, and Klaus Rosenfeld, CEO, mark launch of trading in Schaeffler shares at FSE
Germany – On 2 October, trading of new shares in Schaeffler AG of Herzogenaurach, Bavaria commenced on the Frankfurt Stock Exchange, following the completion of a merger with fellow Bavarian components supplier Vitesco Technologies Group AG of Regensburg the day before.
Vitesco, formerly the powertrain division of Continental before its spin-off in 2019, has now been merged into the Schaeffler Group. All product brands, including Vitesco, which are currently marketed alongside the Schaeffler brand will “gradually be transferred to the corporate brand”. In addition, former shares in Vitesco have been converted to common voting shares in Schaeffler on a 1:11.4 basis, i.e., each Vitesco shareholder has received 11.4 shares for every one share they held before. As a result, the total number of Schaeffler shares has increased from 666 million to nearly 945 million.
