March 2, 2017 / 8:43 AM / 5 months ago

BRIEF-Kungsleden to carry out rights issue of SEK 1.60 bln

1 Min Read

March 2 (Reuters) - Kungsleden AB:

* Announced on Wednesday rights issue of about 1.60 billion Swedish crowns ($177 million) with pre-emptive rights for Kungsleden's shareholders

* Shareholders may subscribe for one new ordinary share for every five existing ordinary shares held

* Subscription price is 45 crowns per ordinary share

* Expected gross proceeds are of abut 1.64 billion crowns

* Main purpose of rights issue is to strengthen company's balance sheet and enable further profitable growth with financial discipline

* Rights issue enables company to reduce financial risk by increasing equity ratio and decreasing loan-to-value ratio

Source text for Eikon:

Further company coverage: ($1 = 9.0400 Swedish crowns) (Gdynia Newsroom)

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