By Pierre Bertrand
Hensoldt said that it will raise its share capital through the issue of new ordinary bearer shares against cash contributions.
The German military supplier said its share capital will be increased by 10%.
New shares will be offered for purchase exclusively to institutional investors in a private placement by way of an accelerated bookbuilding process, Hensoldt said Thursday.
Hensoldt said that the German federal government has committed to participate in the capital raise pro-rata to their shareholding of 25.1%, it said.
Admission of the new shares to trading on the Frankfurt Stock Exchange is expected Tuesday, with the start of trading expected Wednesday, the company said.
The proceeds of the capital increase will be used to partially finance the company’s acquisition earlier this week of German defence systems integrator, ESG Elektroniksystem- und Logistik GmbH, Hensoldt said.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
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