French SWF backs Soitec’s Eu150m rights issue

30 Jun 2011

Soitec, the French semi-conductor technology firm, on Tuesday launched a Eu150m rights issue to fund capital expenditure with the backing of the Fonds Stratégique d’Investissement, the country’s sovereign wealth fund which will use the deal to take a stake in the firm.

The company is offering three new shares for every eight held at Eu4.50 each, a 35.5% discount to the theoretical ex-rights price based on Monday’s close of Eu7.901. Subscription run from July 1 to July 12.

HSBC is sole global co-ordinator and joint bookrunner with Morgan Stanley.

The rights ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial