TrafficCom in jam after cap hike, secondary sale stalled

26 Jul 2011

Austrian toll technology firm Kapsch TrafficCom raised €49m on Wednesday through a 6.6% share capital increase but the company’s majority shareholder failed to sell down a small portion of its own stake at the same time, while the deal sent the stock down below the offer price.

TrafficCom mandated UBS, Erste Bank and Raiffeisen for the accelerated book build — without risk — aiming to raise funds to finance future projects and to “enable it to play active role in the expected convergence of intelligent transportation systems and the expected consolidation of the electronic toll ...

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