Valora today announces that the offer price for the rights offering and for the share placement was set at CHF 310 per new share.
In the rights offering 311,250 new shares were subscribed for by existing shareholders, and 243,151 new shares were placed with investors in the share placement, which met strong demand and was well oversubscribed.
Valora raises net proceeds of approximately CHF 166 million based on the offer price of CHF 310 per new share. Valora will use the proceeds from the capital increase to refinance the acquisition of BackWerk, to finance the expansion of production capacities, to refinance existing capital market instruments and for general corporate purposes to enhance financial flexibility.
As a result of the capital increase, the share capital of Valora will increase by CHF 554,401 to CHF 3,990,000.00 divided into 3,990,000 registered shares with a nominal value of CHF 1.00 each.
The listing and first day of trading of new shares on SIX Swiss Exchange will be tomorrow, 22 November 2017. Settlement and delivery of the new shares against payment of the offer price is expected to occur on 23 November 2017.