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Tech & Science IPOs of Lilium and VITESCO: Not extracted

14:30  17 september  2021
14:30  17 september  2021 Source:   tagesspiegel.de

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Two prominent stock exchanges from Germany ran extremely this week. Nevertheless, they stand for several trends.

Senkrechtstarter. Das Elektro-Flugtaxi des Herstellers Lilium beim morgendlichen Flug über Inseln. © Picture Alliance / DPA vertical starter. The electric airtaxy of the manufacturer Lilium at the morning flight over islands.

That the stock market runs well, you also reliably remember that the number of stock exchanges increases. Thus, the number of Initial Public Offers, the so-called IPOS rose sharply in the previous year. In the current year, a new record indicates. Two German companies have gone to the parquet this week alone. As most recently often as SPAC or as a cleavage, which will be equal for multiple trends. However, they experienced a mixed start.

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On Thursday, a cleavage of the car supplier Continental celebrated its debut. However, the paper of the drive technology manufacturer VITESCO lost slightly to the commercial start slightly. By noon, she worked up to 66.88 euros. For the shareholders of Continental, however, it was not a profitable day.

Vitesco was valued at the first course of 59.80 euros with 2.4 billion euros. But Continental lost accordingly and now comes to a stock market value of almost 20 billion. The share of the Hanoverian car supplier and tire manufacturer started at 99.63 euros twelve percent under the closing price from Wednesday.

Vitesco has to fight with the change in the auto industry and has to change the production of gearboxes for diesel and gasoline engines as quickly as possible on components for electric cars. Around half of the turnover of eight billion euros no longer belongs to the core business in the future. Vitesco boss Andreas Wolf was optimistic about the Frankfurt Stock Exchange Parket that the profound conversion will succeed. The market waxes very dynamic, driven by the pressure of politics and regulation. By 2024, the business with electric drives to Wolf's ideas should be profitable. What the structural change means for the almost 40,000 employees has left VITESCO.

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Lilium chooses the way over a US spac

Already on Wednesday, the air taxi start-up Lilium went to the stock market. However, the company had elected the path to the US technology export NASDAQ via a detour. The company from Oberpfaffenhofen was hatched in the empty stock market shell - a so-called spac - QELL acquisition and has thus found its way to the US stock market through the back door.

On Wednesday, however, on Wall Street, they were received with price losses. The shares gave up to 4.2 percent in the first trading minutes and recorded $ 9.02. Lilium talked about a milestone on the short message service Twitter, which promote the company on the way to the 2024 operation. On Thursday, however, the course rose slightly again.

The company plans to operate in 2025 in several regions in operation and wants to carry passengers with a seven-seat vertical starter. The aim is a range of more than 250 kilometers. So far, this machine is only on paper, an approval is probably still in far away. Overall, 400 engineers have been working on the helicopter-like vertical starter for six years, which has electric drive. Before the IPO, the company has expanded its Board of Directors, which is headed by the former Airbus boss Tom Enders.

also Call Center Strive to the Exchange

Companies around the globe are currently providing a race around the first air taxi offer. The two German developers of Lilium and Volocopters are said to be good opportunities. The aim is to offer fully electric compounds between cities in a few years - according to Lilium on the price level of conventional means of transport.

For another IPO, the prices were set on Thursday. The Gütersloher Medienwiesen Bertelsmann and his Moroccan partner Saham want to bring the call center operator Majorel to the parquet and thus take up to just under 900 million euros. Majorel announced on Thursday at the headquarters in Luxembourg an indicative price range from 32 to 39 euros per share. Thus, the company, founded in 2019, will be valued at 3.2 to 3.9 billion euros. (with dpa)

German activists weigh climate crisis as election looms .
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