Thyssenkrupp: increases capital by 10%.
(CercleFinance.com) - In addition to the proposed merger of its European steel business with that of the Indian company Tata Steel, ThyssenKrupp has announced that it has increased its capital by 10% at a reduced discount.
It aims to reinforce its activities as an industrial equipment supplier.
The transaction, which will result in the issue of 56,593,794 new shares, was realised through the accelerated bookbuilding process with international institutional investors and was carried out at 24.3 euros per share, i.e. a discount of less than 2% relative to the closing price of the previous day, the German group said. The gross proceeds from the transaction therefore amount to 1.37 billion euros.
The merger with Tata Steel will better value the group's steel division, with the fund raising intended to strengthen ThyssenKrupp's other division; industrial capital equipment.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
It aims to reinforce its activities as an industrial equipment supplier.
The transaction, which will result in the issue of 56,593,794 new shares, was realised through the accelerated bookbuilding process with international institutional investors and was carried out at 24.3 euros per share, i.e. a discount of less than 2% relative to the closing price of the previous day, the German group said. The gross proceeds from the transaction therefore amount to 1.37 billion euros.
The merger with Tata Steel will better value the group's steel division, with the fund raising intended to strengthen ThyssenKrupp's other division; industrial capital equipment.
Copyright (c) 2017 CercleFinance.com. All rights reserved.