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Provider : Thomson Reuters Stock Report
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Provider : Reuters Investment Profile
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Abengoa SA Hopes For EUR 385 Million With US Share Offer-Reuters

Sunday, 6 Oct 2013 07:05am EDT 

Reuters reported that Abengoa SA hopes to raise around EUR 385 million (USD 523 million) by issuing shares on the Nasdaq stock exchange, according to a notice filed to the U.S. Securities and Exchange Commission. Abengoa SA, which plans to use proceeds to pay down debt and improve its balance sheet, said it would offer 182,500,000 Class B shares including in the form of American Depositary Shares (ADS), with each ADS representing five Class B shares. The Company said its Class B shares closed at EUR 2.19 per share on October 3, 2013, giving each ADS a value of USD 14.82. The Company said in August 2013 it aimed to reduce its total net debt, which stood at EUR 7.2 billion at end-June 2013, by EUR 3.1 billion by 2014. 

Company Quote

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11:35am EDT