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Citycon Oyj Announces EUR 200 Million Rights Issue-DJ


Wednesday, 13 Feb 2013 01:39am EST 

Dow Jones reported that Citycon Oyj has decided to raise EUR 200 million via a rights issue of up to 114,408,000 new shares. Shareholders will receive one subscription right for every one share owned. Each 20 subscription rights will entitle holders to subscribe for seven new shares. The aggregate net proceeds, after fees and expenses, will be approximately EUR 198.3 million. Net proceeds will be used to strengthen the Company's balance sheet and enable Citycon to continue implementing its strategic plan. The subscription price for the new shares is EUR1.75 each. The subscription period begins on February 21, 2013 and ends on March 7, 2013. The largest shareholder, Gazit-Globe, intends to subscribe for new shares on a pro rata basis. SEB Enskilda and UBS Investment Bank are acting as joint global coordinators, joint lead managers and joint bookrunners of the offering. 

Company Quote

2.64
-0.01 -0.38%
11:12am EDT