Primary issuance and target ownership

Methods and settings

Choose recipient and class

Add Primary issuance in Equity Transactions. Choose an outstanding common, preferred or eligible other share class and an external recipient. The recipient can already hold shares. A new holder or common/preferred class can be created in the transaction controls. Managed ESOP securities are not ordinary issuance targets; use their dedicated actions.

Supply one sizing method

Shares issued directly determines the quantity. Cash + price requires a positive price and divides proceeds by it. Target ownership uses the selected Basic/FD opening denominator and the recipient’s existing units on that basis. Price is optional for a quantity-based issuance: without it, share changes can be calculated while company cash and cash-adjusted values remain unavailable.

Account for existing recipient ownership

For target fraction t, opening denominator D and existing recipient units H, additional shares = (t × D − H)/(1 − t). A target must be strictly between 0% and 100% and cannot require negative new shares. With D 1,000, H 100 and target 25%, issue 200: the recipient then owns 300/1,200 =25%. The same formula uses FD units when FD is selected.

Inspect dilution and company cash

Issuance increases issued and outstanding shares and the recipient’s holding. Existing holders’ absolute shares stay unchanged, while percentages may decline. At a price of EUR 5, the 200-share example produces EUR 1,000 company cash. These are transaction-analysis effects; Apply closing is separate and still does not post cash to financial statements. No subscription-rights, issue-expense or preference-waterfall calculation is implied.

When company cash must reach the statements

The transactions described here remain an ownership comparison; Apply closing updates the ownership ledger, not financial statements. For dated company buybacks or primary issuance linked to Cash, Financing Cash Flow, equity and DCF shares, use Listed Shares & Capital Returns. Do not enter the same financial cash event twice. A secondary holder transfer still creates no company proceeds.