October 9, 2013 / 7:22 AM / 4 years ago

UPDATE 1-Insurer Uniqa raises 757 mln eur in stock sale

(Adds details and background)

* New shares priced at 8 euros each

* Gross proceeds 757 million euros

* Free float to rise to as much as 35.4 pct

VIENNA, Oct 9 (Reuters) - Austrian insurer Uniqa has raised 757 million euros ($1.03 billion) in a stock sale that will finance expansion in eastern Europe and boost its free float to as much as 35.4 percent, it said on Wednesday.

It priced shares in the deal at 8 euros each, the mid-point of the indicated price range, as Reuters had reported on Tuesday, citing sources close to the issue.

When Uniqa launched the share sale last month, it said it aimed to raise around 750 million euros and raise its free float to as much as 36.7 percent.

Its "re-IPO" - it will raise the free float from just 7 percent - is the biggest deal on the Vienna Stock Exchange since Erste Group raised around 660 million euros in a rights issue this year and aluminium group AMAG went public in a transaction worth 411 million in April 2011.

It comes amid a resurgence in European equity-related financings such as IPOs, follow-on deals and convertible bond issues as market confidence has improved. Bankers working in the sector expect the rest of the year to be busy.

The deal allocated nearly 95 million shares to investors, including 6.7 million in a greenshoe overallotment option.

Its core shareholders had agreed not to take part in the rights issue, which offered five new shares for each 11 held now. Raiffeisen Zentralbank until now held 45.3 percent, the Austria insurance foundation 44.1 percent and the Collegialitaet foundation 3.3 percent.

Its stock fell 3.6 percent in early trading to 8.15 euros.

Uniqa has said it aims to double the number of customers it had in 2010 to 15 million by 2020 and increase pretax profit by up to 400 million euros between 2010 and 2015.

Deutsche Bank, Morgan Stanley and Raiffeisen Centrobank are joint bookrunners, with Barclays , Berenberg and UBS as co-bookrunners. KBW is advising Uniqa.

$1 = 0.7355 euros Reporting by Michael Shields, Arno Schuetze and Alexander Huebner

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