
DSV shares soar after major stock sale
Danish logistics company DSV saw its stock jump by 6.7 percent following the sale of new shares worth 37.3 billion kroner. This move came after the announcement of the issuance of these shares to fund the acquisition of German logistics firm DB Schenker for 107 billion kroner. The capital increase was executed swiftly without the need to offer a discount to new shareholders, indicating high interest and strong confidence in DSV. The company had previously announced that the purchase of DB Schenker would partly be financed by issuing new shares. After the stock increase, it’s suggested that investors may have been relieved that no significant discount was applied to the new shares. DSV’s acquisition of DB Schenker, which will result in a combined annual turnover of about 293 billion kroner and a workforce of 147,000 employees across more than 90 countries, is still subject to regulatory approval.