Rhön rights issue at record low discount

July 22, 2009 12:00 am

There is no sign yet of a summer slump in equity markets with German hospital operator Rhön Klinikum launching a Eu460m rights issue and tyre maker Continental discussing a capital increase of Eu1bn. What’s more, Rhön is setting new standards in terms of discounting new shares. The discount to terp is as narrow as 12%, which undercuts the previous low set by cement maker Holcim. Will equity bankers have to cancel their summer holidays? Read EuroWeek on Friday.

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