Heidelberg readies Eu420m recap rights issue

13 Sep 2010

Heidelberger Druckmaschinen moved ahead with a long-standing plan to cut debt through a highly dilutive rights issue on Sunday.

The Frankfurt-listed company launched the two for one rights issue after obtaining shareholder approval in June. The company is issuing 155.287m new shares at Eu2.70 each to raise Eu420m. Heidelberg shares closed at Eu6.21 on Friday.

The company is using the full proceeds to pay down debt. Commerzbank and ...

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