Puma: free float set to rise from 14% to 55%
(CercleFinance.com) - Puma, the German sports equipment manufacturer, welcomed Kering's plan to distribute most of its Puma shares to its shareholders, which will greatly increase its free float.
Indeed, the French group wants to distribute (to its shareholders) about 70% of the total shares of Puma in circulation in kind, considering that Kering currently holds 86.3% of Puma shares.
In the end, the French group would retain about 16% of Puma's outstanding shares. Artemis, the holding company of the Pinault family which currently controls 40.9% of Kering, would have about 29%, and the German group's free float would climb from its current level of 14% to around 55%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Indeed, the French group wants to distribute (to its shareholders) about 70% of the total shares of Puma in circulation in kind, considering that Kering currently holds 86.3% of Puma shares.
In the end, the French group would retain about 16% of Puma's outstanding shares. Artemis, the holding company of the Pinault family which currently controls 40.9% of Kering, would have about 29%, and the German group's free float would climb from its current level of 14% to around 55%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.