KLÖCKNER & CO'S FREE FLOAT NOW ABOUT 55 PER CENT
The free float of the international distribution company Klöckner & Co AG has increased from 35 per cent to a new level of around 55 per cent. The private equity investor Lindsay Goldberg & Bessemer (LGB), until now the majority shareholder in Klöckner & Co, today announced the release of some 20 per cent of its 65 per cent shareholding in the company. This brings the free float up to approximately the level aimed for in the course of the IPO.
"We welcome this substantial increase of our free float; this makes us an interesting candidate for admission into the MDAX of the Frankfurt Stock Exchange," said the Chairman of the Board of Management, Dr. Thomas Ludwig. Klöckner & Co AG was already admitted into the SDAX index of the Frankfurt Stock Exchange two months after its IPO on June 28, 2006.