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Provider: Reuters Investment Profile

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KBC Group SA Announces Common Share Offering

Sunday, 9 Dec 2012 07:00pm EST 

KBC Group SA (KBC) announced that the Company's intention is to maintain a fully loaded Basel 3 common equity ratio of 10% as of January 1, 2013, instead of December 31, 2013 as previously guided on November 8, 2012 at the occasion of the third quarter results announcement. Consequently, the Company has decided to issue EUR 1.25 billion in new shares by means of an Accelerated Book Building and a contingent non-dilutive capital note of approximately EUR 0.75 billion in the first quarter of 2013. The capital increase received the support of KBC's core shareholders. Pursuant to the Accelerated Book Building, KBC will issue approximately 35.8 million new shares that will be listed after the issue and for the remainder, issue new registered shares which will not be listed. In order to enable the global coordinator to deliver listed shares to the investors who participate in the Accelerated Book Building, the newly-issued registered shares will be swapped with a core shareholder against existing listed shares. The Offering is made as a private placement to institutional investors in Belgium and internationally, including in the United States to qualified institutional buyers. 

Company Quote

0.96 +2.41%
11:35am EDT