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Abengoa SA Plans To Offer Class B Shares In Form Of Shares Or American Depositary Shares-Reuters

Tuesday, 8 Oct 2013 08:00pm EDT 

Reuters reported that Abengoa SA announced its intention to offer class B shares in the form of shares or American Depositary Shares (ADS) for expected gross proceeds of approximately EUR 400 million or USD 541 million, prior to underwriting commissions and discounts and other offering expenses. The shares will be offered publicly in the United States pursuant to a registration statement filed with the Securities and Exchange Commission (the SEC), and globally. The ADSs have been approved for listing on the NASDAQ Global Select Market, subject to official notice of issuance. The Company has also applied to list the class B shares on the Madrid and Barcelona Stock Exchanges. The shares will be offered without preferential subscription rights to existing shareholders. Abengoa SA's majority shareholder, Inversion Corporativa, has expressed to the Company its intention to present an offer for the subscription of EUR 63 million under the capital increase. The Company intends to use the net proceeds from the offering to repay certain existing corporate debt maturities due in 2013 and 2014 totaling approximately EUR 323 million, with the remaining net proceeds to be used to reinforce its liquidity position and strengthen its balance sheet. 

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