Euronext launches rights issue to fund Italian takeover

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By Sam Kerr
29 Apr 2021

Euronext, the European stock exchange operator, has launched its long-awaited €1.8bn rights issue to part-fund its acquisition of Borsa Italiana Group from the London Stock Exchange Group.

Euronext is offering 30.5m new shares on Euronext Paris at an issue price of €59.65 each. Existing shareholders will be able to subscribe for two shares for every five they own.

The offer price is a 23% discount to the theoretical ex-rights price of €77.51 a share, which was ...

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