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Provider: Wright Reports
Provider: Reuters Investment Profile

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Active Biotech AB Raises SEK 270 Million Through Directed New Issue to Investor AB

Wednesday, 6 Mar 2013 02:30am EST 

Active Biotech AB announced that its Board of Directors has resolved to issue in total 6,000,000 new shares in the Company to Investor AB (publ). The shares are issued at a subscription price of SEK 45 per share, providing the Company with in total approximately SEK 270 million after transaction costs. The closing price for the Active Biotech share on NASDAQ OMX Stockholm on March 5, 2013 was SEK 48.80. The issue proceeds are intended to be used to strengthen Active Biotech's capital base and to enable the continued development and value-growth of the project portfolio. The new issue also strengthens Active Biotech's position in discussions with potential partners. The Board considers it being beneficial for the Company and the shareholders to broaden the shareholder base and to take advantage of the opportunity to raise capital on favorable terms for the Company from a well renowned investor. Active Biotech's two main shareholders MGA Holding AB and Nordstjernan AB, and East Bay AB, with a joint holding of votes and shares of approximately 44%, have stated that they support the new issue. Through the new issue, the number of shares in Active Biotech will increase by 6,000,000 from 68,923,582 to 74,923,582 and the share capital will increase by SEK 22,616,055.93 from SEK 259,796,597.53 to SEK 282,412,653.46. Investor's holding will correspond to approximately 8% of the shares and votes in Active Biotech. 

Company Quote

0.6 +3.06%
23 Dec 2014