Finmeccanica shows how its done (with Eu1.22bn rights issue)

November 12, 2008 12:00 am

Equity bankers are breathing a sigh of relief on the news of the take-up of Finmeccanica’s Eu1.22bn rights issue. The Goldman Sachs and Mediobanca-led deal closed with 98% of the rights subscribed even after the shares had dropped up to 50% during the offer period. The news might give confidence to Goldman in particular, as well as Credit Suisse and UBS, who have underwritten the £2.2bn rights issue for UK energy business Centrica, scheduled to launch next week.

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