Ratos issues shares to finance acquisitions
Ratos plans on increasing its share capital by up to SEK 2m through a new issue of up to 830,000 class-C preference shares.
The board of directors intends to finance part of the recent Aibel acquisition, as well as the recent Nebula and Hent acquisitions.
Ratos's proceeds from the issue will amount to close to SEK 1.4bn before issuing costs, if fully subscribed.
Shares will be issued at a subscription price of SEK 1.75 per preference share. Given this price, effective annual yield is estimated at 6.8%. The emission is directed to the Swedish general public as well as to institutional investors.
The application period for preference share subscription is between 29 May and 13 June 2013 for institutional investors. The shares are estimated to start trading on Nasdaq OMX Stockholm on 28 June 2013.
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