ADIDAS UPS OFFERING TO 60.2% OF FIRM

LONDON--Adidas AG Monday boosted the number of shares available in its public offering to at least 60.2 percent of the company in response to high market demand.
The athletic footwear and apparel company's shareholders originally planned to float 50.1 percent of its shares on the Frankfurt Stock Exchange, with an over-subscription option of another 15 percent.
Under the new plan, another 4.6 million shares have been made available on top of the original 22.7 million, while the over-allotment option has been cut to 4.09 million shares, or 9 percent of the total.
The high level of demand also caused Adidas to price the offering at $47.88 (68 marks) a share, which is at the upper end of its price forecast two weeks ago.
The price values the company at about $2.18 billion (3.1 billion marks). Adidas said the offering will be the second-biggest ever held by a German company.
The shares are being sold by Sogedim SA, which owns 95.9 percent of Adidas, and by SEBA Investissements SA of France, which holds the remaining 4.1 percent.
Dealings in the shares will begin Friday.

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