News in the corporate structure headed by KTM AG.
Until recently Pierer Mobility AG (PMAG) and the Dutch branch Bajaj Auto International Holdings BV (BAIHBV, wholly owned by Bajaj Auto of India), held respectively 51.7% and 48% of KTM AG, or the company that controls – among other activities – 100% of KTM Motorcycles, Husqvarna Motorcycles, GASGAS and WP.
In a simplification of the shareholding structure in KTM AG, through a transfer of shareholdings to the PTW Holding AG, last July Pierer Industrie AG and Bajaj Auto had announced one exchange of shares the first phase of which was carried out on 29 September.
Bajaj Auto International Holdings BV in fact traded on that date the 46,5% (of its 48%) of KTM AG, with a 49.9% stake in PTW Holding, thus becoming a shareholder of PTW Holding together with Pierer Industrie who controls the remaining 50.1%.
And PTW Holding controls in turn 60% of Pierer Mobility AG.
PTW Holding subsequently contributed the 46.5% stake in KTM AG to Pierer Mobility AG in exchange for 11,257,861 new shares at PMAG.
On October 22nd Pierer Mobility AG concluded the related capital increase of 895 million euro by issuing 11,257,861 new PMAG shares.
In this way the participation of Pierer Mobility AG in the operating company KTM AG rose from approximately 51.7% to approximately 98,2%.
With the 11,257,861 new shares the total number rose to 33,796,535, for a capitalization of approximately 2.7 billion euros.
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