Uniqa sets terms on €750m re-IPO to increase liquidity

By Andrew Griffin
26 Sep 2013

Uniqa Insurance Group set terms on a €750m re-IPO on Monday, as it hopes to increase its liquidity. The deal will put up to 36.7% of the firm in free float, from 7% before the deal. Liquidity concerns have kept many investors out of the stock, said bankers.

Uniqa set a range of €7.50-€8.50, with final pricing in both the rights issue and the public offer to be set through a bookbuild, to raise €700m, plus a €50m greenshoe. The range offers a 7.1%-18% discount to Friday's €9.15 close, but those liquidity concerns mean that price ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial