German manufacturer Knorr-Bremse reports a high level of interest in its upcoming IPO. In fact, the company is shortening its pre-sale offer period by a day. This pre-sale period is an opportunity for very large investors to purchase large blocks of the stock, typically at a discount.
Knorr-Bremse’s pre-sale offer period ends Wednesday. The stock goes on sale to the public on Friday. The Knorr-Bremse IPO is expected to be the largest in Germany this year.
According to Reuters,
Bankers and investors said the float was well supported because family-owned Knorr is viewed as an industry leader with a history of consistent profitability, differentiating it from other recent debutantes that are trading below their offer price.
Read more about the Knorr-Bremse IPO in the Financial Times.
Earlier in The Brake Report: Knorr-Bremse prepares for IPO