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Ratos AB Announces Preference Issue of Up To SEK 1,425.5 Million


Monday, 27 May 2013 01:30am EDT 

Ratos AB announced that its Board of Directors has resolved, based on the authorization from the Annual General Meeting, to issue up to 830,000 Class C preference shares to a total value of up to SEK 1,452.5 million. The Board has resolved to increase the Company's share capital by up to SEK 2,614,500 through a new issue of up to 830,000 Class C preference shares directed to the general public in Sweden as well as institutional investors. Ratos intends to finance the acquisitions of Nebula and HENT as well as part of the acquisition of Aibel through this issue. The Preference shares will be issued at a subscription price of SEK 1,750 per Preference share. Effective annual yield is estimated at 6.8% given a subscription price in the offering of SEK 1,750 per Preference share. If fully subscribed, Ratos's proceeds from the issue will amount to approximately SEK 1,452.5 million, before issue costs. The application period for subscription for Preference shares is between May 29, 2013 and June 13, 2013 for institutional investors and between May 29, 2013 and June 12, 2013 for the general public in Sweden. Estimated first day of trading in the Preference shares on Nasdaq OMX Stockholm is June 28, 2013. 

Company Quote

48.7
0.64 +1.33%
22 Oct 2014