This Friday was drawn by a course slip for the listed Pierer Mobility AG, mother of the KTM group. In the meantime, the price of the shares has broken up by up to 30 percent. The reason for this was an ad hoc announcement. “Due to a significantly reduced operating performance and one -off restructuring expenses”, Pierer Mobility must expect “with a significant negative result” on December 31, 2024. The negative result should be quantified with “a higher three -digit million amount”.
One had to admit that half the share capital was used up by the loss. An extraordinary general meeting must therefore be convened on the basis of legal requirements. This should take place on April 25, 2025 in Munderfing, Upper Austria, ”it says.
Was speculated
„I expected it in a way. If the greatest participation KTM is under water, it was to be expected that the lights will run out at the Pierer Mobility, provided that no fresh capital will come in, ”says Florian Beckermann from the investor’s interest association (IVA) to the courier. The stock market course was far too high. Apparently there has been a lot of speculation. To decide on a bar capital increase of 150 million euros, by issuing shares to a reference price of 7.5 euros.
Convert loans into equity
“I am glad that the free float is given the opportunity to participate in the future of the KTM,” says Beckermann. With this capital increase, however, the previous shareholder conditions will be watered down at the end of the day, i.e. changed.
“All stocks for which the subscription right is not exercised can be taken up by Pierer Bajaj AG,” said the company. In addition, there is also an increase in non -cash capita. The Indian co -owners Bajaj will convert loans that have already been granted into equity. Bajaj provided 150 million euros for the rapid of KTM production on March 17, 2025, and another 50 million euros are to be followed.
Explosive back door
However, the Indians have left a back door: If the relief increase does not take place at an issue price of 7.5 euros per share or the general assembly decision is contested by a shareholder, these loans provide an extraordinary right of termination.
“The Indians are sitting in the Driver Seat, nothing goes past Bajaj in the renovation,” says the IVA boss. “I am convinced that the Indians are aware of their strength.” He expects the Indians to take over the majority of Pierer Mobility at the end of the day.