Wirecard says to issue 11.2 million new shares

FRANKFURT Tue Feb 25, 2014 1:07pm EST

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FRANKFURT Feb 25 (Reuters) - German payment systems provider Wirecard plans to issue about 11.2 million new shares to raise funds for future acquisitions, the group said on Tuesday.

"Wirecard has resolved this capital increase to be prepared for upcoming M&A opportunities continuing the acquisition strategy pursued over the last years," it said in a statement.

Wirecard added that share sale would begin on Tuesday in an accelerated bookbuilding and was expected to be completed on Wednesday, when the offer price will be set. (Reporting by Christoph Steitz; Editing by Pravin Char)

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