FRANKFURT - Mutares (ETR:MUXG) SE & Co. KGaA, a German holding company, has successfully completed a second tap issue of its bond, securing an additional €100M in funding. This move comes after an initial issuance and a first tap of €50M in May of the previous year. The bond is scheduled to mature on March 31, 2027.
CEO Robin Laik highlighted the significance of this capital market transaction, stating it is pivotal for the firm's expansion plans. Mutares has set its sights on up to 15 potential acquisitions, with a particular interest in China, as part of its strategy to boost growth. The fresh capital is earmarked to propel the company towards its ambitious revenue targets of approximately €7B by the fiscal year 2025 and around €10B by fiscal year 2028.
The company's optimistic financial projections estimate a net income ranging between €125M and € 150M for the fiscal year 2025, with expectations to reach approximately €200M by fiscal year 2028. The confidence in Mutares' strategic direction has been echoed by institutional investors who have supported the tap issue. Their backing is bolstered by the company's promising transaction pipeline and the positive trends observed in its share price.
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