Schneider Electric’s share price falls in Paris following the placement of 25 million shares
It aims to raise €6 billion to finance part of the acquisition of PTC
(Il Sole 24 Ore Radiocor) - The French electrical equipment giant Schneider Electric has completed a placement of 25 million new shares at a price of 240 euros each, a price approximately 5 per cent lower than Monday’s closing price, and the French group’s share price has recorded the sharpest fall on the CAC 40, approaching the placement price.
The transaction was carried out via an accelerated bookbuilding (ABB) process, without granting pre-emption rights to existing shareholders, and was announced on the evening of Monday 19 October. The French group’s aim is to raise €6 billion (US$6.74 billion), which will be used to finance part of the acquisition of the US industrial software company PTC.
Earlier this month, Schneider Electric announced that it had reached an agreement to acquire PTC, with a view to developing a portfolio dedicated to industrial artificial intelligence. The transaction, which involves an all-cash payment and values the US company at $22.6 billion, is expected to be completed in the third quarter of 2027.
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