Red & Black Holding GmbH, a company majority owned by Permira Funds, intends to place 7 million ordinary shares of German clothing maker HUGO BOSS AG (HUGSF.PK) in an accelerated bookbuilding process, representing nearly 10% of the total share capital. According to information acquired, the bookbuilding has already started.
As a result of the placement, the free float of HUGO BOSS would increaseto around 30 million shares, which would represent nearly 42% of the share capital. The Group said it expects the higher free float to further enhance the attractiveness of the share among institutional investors and to increase the weighting in the MDAX.
Red & Black Holding GmbH owns around 46.16 million ordinary shares directly, accounting for 65.56% of HUGO BOSS' share capital, based on the latest voting rights announcement.
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