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Uniqa starts 500 mln eur rights issue

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VIENNA, June 26 | Tue Jun 26, 2012 4:25pm IST

VIENNA, June 26 (Reuters) - Uniqa has launched its previously announced 500 million euro ($624 million) capital increase via a rights issue priced at 10.50 euros per share, the Austrian insurer said on Tuesday. Its shares had closed on Monday at 10.955 euros.

Shareholders can get 10 new shares for each 29 they now hold in the placement that is set to run from June 28 to July 12, it added.

Uniqa had said in April it planned a 500 million euro rights issue this year as an interim step towards a bigger transaction planned for 2013.

($1 = 0.8013 euros) (Reporting by Michael Shields)
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