Peugeot launches rights issue, shares rise
PARIS, April 29
PARIS, April 29 (Reuters) - PSA Peugeot Citroen launched its 1.95 billion euro ($2.70 billion) rights issue on Tuesday that will see Dongfeng Motor and the French government take 14.1 percent stakes in the carmaker.
Peugeot set a subscription price of 6.77 euros per new share, with investors receiving seven new shares for 12 held, according to a statement published on its website.
The subscription period will run from May 2 until May 14, with the transaction guaranteed by a banking syndicate, Peugeot said.