Pernod sets narrow discount for Eu1bn

April 15, 2009 12:00 am

French distiller Pernod Ricard is offering a 36% discount to Tuesday’s closing price in its Eu1bn rights issue, a much lower markdown compared to many recent deals. Pernod set the terms for the share offer on Wednesday, a day after one of its larger shareholders, Japanese brewer Kirin, announced the transfer of its stake to Pernod’s founding family. Is the discount deep enough for current volatile stock markets? Read EuroWeek on Friday.

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