Heidelberg shares jumped £2.56 (€3.78) to £27.48 on Monday, before closing on £26.50. Some reports have suggested that rumours the firm could be the target for a buy-out are behind the jump.
However, City analysts have suggested that the share price spike was due to a surprise decision, announced on Monday, by Heidelberg’s former majority shareholder RWE, the energy and water group, to hold on to shares it owns in the company.
It had been expected to distribute the shares to investors in a £312m bond, which is due to mature this month. Instead, it will give cash to the bondholders and retain the shares, which represent a 15% holding in Heidelberg.
Heidelberg spokesman Thomas Fichtl said: “Some parties in the financial market were surprised and may have had to buy other shares to keep their promises.”
RWE issued the bond after selling a 35% stake in Heidelberg direct to the stock market in 2004, saying it did not fit with its core businesses.
Fichtl said: “What RWE wants to do with the shares – this we do not know.”
Have your say in the Printweek Poll
Related stories
Latest comments
"I walked away from working with these people, too much effort for little reward! nice people, wish them all the best for the future!"
"Does that mean we'll have to think up a new name for fine white-glazed porcelain ceramics? How about Spode? Or is that a bit too, well, English?"
"“Eucalyptus globulus is five to seven times more productive than Nordic Pine and requires significantly less wood (up to 40% less) to produce the same amount of paper."
"The company added..."
Up next...
Aims to enhance efficiency
New nationwide printing framework launched
Plate tariffs in US 'a big win'
Kodak invests in innovation as print wing posts loss
Was still working at 81