Praktiker completes €60m rights issue
Praktiker, the German retailer, raised €60m through a fully underwritten rights issue that closed on Friday, which will help the company access new borrowing. Shareholders representing 55% of the share capital participated in the deal.
Shareholders were offered 19 new shares for every 20 held, at 1.08 each. That was a 10.74% discount to the 1.21 close on November 28, when the deal was announced, and a 3.87% discount to the theoretical ex-rights price.
The shares have fallen sharply since then, however, closing as
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