Wacker Chemie reduces Siltronic stake to 15%

Wacker Chemie has reduced its stake in semiconductor wafer manufacturer Siltronic from approximately 21.67% to around 15%.

The reduction was executed through an accelerated bookbuilding process, in which approximately 2.2 million Siltronic shares were placed at 77.25 euros per share. This placement price was below the previous closing price of 82.75 euros.

Wacker Chemie expects gross proceeds of approximately 171 million euros from the transaction, which is intended to increase the company's financial flexibility for future growth investments. The shares were sold exclusively to qualified and international institutional investors. Rothschild & Co acted as the financial advisor for Wacker Chemie. Despite the sale, Wacker Chemie remains a significant shareholder and has committed not to sell further shares within the next 90 days, subject to certain exceptions.