Ina Invest: Subscription rights subscribed at just under 60%
Construction group Implenia has announced the results of the rights issue of its spin-off Ina Invest. Accordingly, subscription rights for 59.24% of the maximum number of new shares were exercised.
Implenia reports that subscription rights for around 3.06 million new Ina Invest shares were exercised. In total, just under 5.17 million share certificates were subscribed. All members of Implenia's Executive Committee have reportedly exercised their subscription rights in full, as have the two members of Ina Invest's Board of Directors nominated by Implenia.
The remaining 2.11 million shares not subscribed by existing Implenia shareholders will be placed with investors through a public offering in Switzerland and private placements in certain other countries, according to the company. Swiss Life had previously announced it would take a stake of up to 15% in the new real estate company. According to earlier information, the insurer intends to place a binding order of approximately CHF 30 million in the bookbuilding at the offer price.
The final offer price of the shares in the rights issue and share placement is to be determined at the end of the bookbuilding period and is expected to be announced on June 12, 2020, before the start of trading on the SIX Swiss Exchange, Implenia added. The listing and first day of trading of the shares is expected to take place on that date.
Due to the outcome of the rights issue and the current status of the bookbuilding order book, the offer price could be set at the maximum price of CHF 22.42, the company announced. (ah)
