Weichai Power will exercise 30% of shares after the KION Call Option IPO

According to the report of Caihua News, Weichai Power announced that its subsidiary Weichai Luxembourg has issued a notice to KION today that it will exercise its call option. KION intends to be listed in Germany around the summer of this year and has already prepared for the initial public offering (IPO). After the completion of the IPO, Weichai Luxembourg will have a 30% stake in KION.

Weichai Power stated that in view of the current macroeconomic environment, the growth and prospects of the forklift industry, KION business performance and profitability, the expected economic parameters of the IPO, and the completion of the exercise of options, they will have the right to request Weichai Luxembourg’s nomination of 3 The person becomes a member of the Kean Supervisor to maintain his long-term strategic investment in KION.

In addition, the exercise period of the Superlift Call Option has been extended for an additional 3 months. Weichai Luxembourg can exercise the option at any time within 6 months after the completion of the IPO or on the 30th of this month, and the Board is still considering whether to exercise it or not.

In addition, with the consent of the parties, the number of shareholder representatives of the KION board of supervisors will increase from 6 to 8, and accordingly, the number of employee representatives will also increase to 80%. Once Weichai Luxembourg holds 30% or more of shares in KION, KION Its current shareholders will ensure that of the 8 shareholders' representatives of the board of supervisors, 3 are members nominated by Weichai Luxemburg.

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