Elster Announces Closing of Initial Public Offering
Elster Group SE (NYSE: ELT), one of the world's largest electricity, gas and water measurement and control providers with products and solutions widely used by utilities in the traditional and emerging Smart Grid markets, today announced that it has closed its initial public offering of American Depositary Shares (ADSs).
Further, the underwriters of the offering have exercised their over-allotment option and purchased 2.43 million additional ADSs (15 percent of the 16.2 million ADSs that were offered) from Rembrandt Holdings S.A., Elster's largest shareholder, which is owned by funds advised by CVC Capital Partners.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.