Added to YB: 2026-06-22
Pitch date: 2026-06-18
NOEJ.DE [bullish]
NORMA Group SE
Author Info
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Company Info
NORMA Group SE, together with its subsidiaries, manufactures and sells engineered joining technology solutions in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.
Market Cap
EUR 565.9M
Pitch Price
N/A
Price Target
20.87 (+22%)
Dividend
0.79%
EV/EBITDA
-6.75
P/E
-5.69
EV/Sales
0.15
Sector
Machinery
Category
special_situation
Norma Group Large Buyback Tender Special situation
NOEJ.DE (tender offer): German connector maker special situation; post-divestiture €208M buyback tender for >30% of shares at up to 30% premium (capped at €20.87 'fair value' vs €17 now). 13% expected return over 3.5-4mo, ~2% at low end, small worst-case loss. Uncorrelated; 3% position. AGM Jul 1, tender Aug-Sep. Stub ~8x EV/EBIT.
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