TUI’s move from London to the Frankfurt Stock Exchange has resulted in a 46.5 million euro share placement.
The investment banks Barclays and Deutsche Bank placed 7.38 million TUI shares with new investors on Monday evening, as announced after the close of trading. The proceeds from the sale will go as compensation to those shareholders who had not exchanged their British depositary receipts for shares in the travel group in time in the course of the change of stock exchange.
According to the banks, the placement price was 6.30 euros, just under five percent below the Xetra closing price of 6.62…
