Orkla exits Gränges in Thursday block

Sweden 230x150
By Olivier Holmey
18 Mar 2016

Orkla, a Norwegian supplier of branded consumer goods, sold 11.94m shares in Swedish aluminium firm Gränges on Thursday, through an accelerated bookbuild that raised Skr824m ($100m).

Carnegie and SEB led the deal, which was launched on Thursday night. Through the deal, Orkla has fully exited its position in Gränges.

The offering represented 16% of the share capital of Gränges. It was priced at Skr69 a share, a 4.8% discount to Thursday’s closing share price ...

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