Finance
Aurubis shares drop as Salzgitter's stake to shrink in bond deal
Published by Global Banking and Finance Review
Posted on October 15, 2025
2 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on October 15, 2025
2 min readLast updated: January 21, 2026
Aurubis shares dropped 6.7% as Salzgitter sold bonds exchangeable for Aurubis stock, reducing takeover speculation.
FRANKFURT (Reuters) -Shares in German copper producer Aurubis fell on Wednesday after key shareholder Salzgitter sold 500 million euros ($582 million) worth of bonds that can be exchanged for 7.6% of Aurubis's stock.
Shares in Aurubis, previously buoyed by booming copper markets, fell 6.7% to 108.2 euros at 0752 GMT, eliminating gains from earlier this month.
The move quenched simmering takeover speculation because Salzgitter has held 29.99% of Aurubis and a stake of more than 30% would have triggered a mandatory offer to remaining shareholders.
The seven-year bonds, due in 2032, offer investors a fixed annual interest rate of 3.375% and can be swapped for existing Aurubis shares at an initial exchange price of 145.80 euros.
BNP Paribas, Commerzbank, Deutsche Bank and UniCredit acted as joint global coordinators and bookrunners for the transaction, which aims to diversify Salzgitter's financing structure and maturity profile.
Salzgitter, whose shares were up 0.5%, said it plans to list the bonds in the Open Market segment of the Frankfurt Stock Exchange.
($1 = 0.8595 euros)
(Reporting by Ludwig Burger, Alexander Huebner, Editing by Friederike Heine, Kirsti Knolle)
A corporate bond is a debt security issued by a corporation to raise capital. Investors receive periodic interest payments and the principal amount upon maturity.
A bond offering is the process by which a company issues bonds to investors to raise funds. It includes details like interest rates and maturity dates.
Market reaction refers to how investors respond to news or events that affect a company's stock price, often reflected in trading volume and price changes.
An exchange price is the predetermined price at which a bond can be converted into shares of stock, typically set at the time of the bond issuance.
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