Vitesco Technologies, a leading international developer and manufacturer of advanced propulsion technologies for sustainable mobility, today celebrated its successful stock market debut with the start of trading of its shares on the Frankfurt Stock Exchange. The initial share price was 59.80 euros.
“The stock exchange listing is an important milestone for our company, of which we are very proud. I congratulate the entire Vitesco Technologies team on this significant step and thank them for their excellent work over the past years. Now we have the necessary entrepreneurial flexibility to position ourselves even better in the market and continue our consistent focus on electrification.”
- Andreas Wolf, CEO
The company, the former Powertrain business unit of Continental AG, had been spun off and made independent in the course of a so-called spin-off. In the course of the spin-off, each shareholder of Continental AG received one share of Vitesco Technologies for every five shares held. The largest single shareholder is the Schaeffler family, which holds around 46 percent through its investment companies IHO Verwaltungs GmbH and IHO Beteiligungs GmbH. The Group employs almost 40,000 people at around 50 locations worldwide. Its headquarters are in Regensburg.
CFO Werner Volz: “For Vitesco Technologies, the stock exchange listing is the next logical step in the company’s development. It perfectly fits our growth strategy and gives us broader access to the capital market. This will allow us to take even better advantage of the opportunities offered by the fast-growing e‑mobility market.”
The shares of the AG with the International Securities Identification Number (ISIN) [DE000VTSC017] and the Securities Identification Number (WKN) [VTSC01] are listed and traded in the Prime Standard of the Frankfurt Stock Exchange under the ticker [VTSC].
