The Hornbach Holding wants to take the DIY chain of the same name off the stock exchange. The company announced an offer to this effect for the remaining shareholders of the subsidiary. You are to receive 47.50 euros in cash for each share, which corresponds to a premium of 13.8 percent on the closing price on Friday. Hornbach hopes that this will result in simpler structures. The decision paves the way for more transparency and competitiveness, said the head of the Hornbach Holding, Albrecht Hornbach. The Hornbach hardware stores were listed on the stock exchange in 1993 separately from the holding company. The Hornbach Holding holds around 76.4 percent of the hardware store subsidiary. The low free float leads to low liquidity of the shares, so that the average daily trading volume does not reflect an appropriate valuation of the company, the company said.
Hardware stores – Hornbach goes from the stock exchange – economy
