Option offer of 9 shares for every 10 owned (Il Sole 24 Ore Radiocor) – Rome, 21 June – The Fincantieri board of directors has set the price at which the new shares of the capital increase which will start will be offered at 2.62 euros Monday on the stock exchange. The 399.3 million euro operation involves the issue of 152,419,410 new shares to be offered as an option to shareholders in the ratio of 9 shares for every 10 already owned. The subscription price of the new shares incorporates a discount of 32.2% on the theoretical ex-rights price (TERP) calculated on the basis of yesterday’s stock market closing.
The issued shares are combined free of charge with the same number of warrants which will give the right to subscribe to new Fincantieri shares at the subscription price of 4.44 euros each, equal to a premium of 14.9% on the Terp. The exercise ratio is 5 new shares for every 34 warrants exercised.
For the exercise of the warrants, a maximum of 22,414,615 shares will be issued for an amount of 99.5 million euros.
The guarantee contract has been signed between Fincantieri and the credit institutions (BNP, Intesa Sanpaolo, Jefferies, JpMorgan and Mediobanca) which commits the banks to underwriting any new shares that may be unopted at the end of the offer on the stock exchange for a maximum amount of 113.5 millions. Cdp Equity, controlling shareholder of the Trieste group, has committed to adhering to the increase for 285.8 million.
The offer starts on the stock exchange on Monday 24 June: the option rights are exercisable from 24 June to 11 July and are negotiable from 24 June to 5 July.
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(RADIOCOR) 21-06-24 08:02:45 (0080) 3 NNNN
