The IPO of the German Biotech company Curevac to the American technology stock exchange Nasdaq, has also for the German taxpayer positive consequences. The public-law promotional Bank KfW, which had been involved prior to the IPO at Curevac, recorded by the transaction a profit of around 100 million euros. This corresponds to a value increase of more than 30 percent, compared with the 300 million euros that was invested by KfW in June.
editor in the economy.F. A. Z.
The Federal government was involved through the development Bank of Curevac, to support the research of the company to a Corona vaccine. With the involvement should also prevent other countries to secure access to the company.
Curevac announced on Friday, to have more than 13 million of its shares in the IPO at a price of $ 16 per share to investors issued. Since the KfW holds, according to the securities prospectus after the transaction 29.8 million Curevac shares, the KfW package is a participation value in the amount of 477,9 million dollars. Converted, this corresponds to the current price of 400 million euros.
The trade with the Curevac shares on the Nasdaq will start on Friday afternoon European time. Depending on the course of development, the market value of the KfW, this will increase package accordingly, or fall.Updated Date: 14 August 2020, 11:19