Steyr Motors $4X0 (-0,35 %) is expanding its presence in Asia with the opening of a new office in Jakarta, Indonesia. At the same time, the company, which is also majority-owned by the listed Mutares Group $MUX (+1,17 %) announced a secondary listing of its shares in the direct market plus segment of the Vienna Stock Exchange. The listing is scheduled to take place on February 10, 2025, according to the report.
According to Steyr, the opening of the new site in Jakarta is part of its strategic expansion in the region. In this context, Steyr Motors has signed agreements with two new dealers to strengthen the distribution of its engine technology in Indonesia and improve service availability. "It is another important step to expand our distribution network throughout the ASEAN region," said Julian Cassutti, CEO of Steyr Motors.
In parallel, the company is preparing for its secondary listing on the Vienna Stock Exchange. Steyr Motors' shares are already listed in Germany, the secondary listing is intended to increase awareness in Austria and provide additional access to investors. Hauck Aufhäuser Lampe Privatbank AG is accompanying this step as capital market coach and market maker.
"We already fulfill the necessary transparency obligations through our listing in the Scale segment of Deutsche Börse, so the secondary listing in Vienna does not involve any significant additional effort," says Cassutti.
