Printer Friendly

-Danish Spar Nord Bank plans EUR114m share issue.

M2 EQUITYBITES-February 8, 2012--Danish Spar Nord Bank plans EUR114m share issue(C)2012 M2 COMMUNICATIONS http://www.m2.com

8 February 2012 - Denmark-based Spar Nord Bank will place stock with existing shareholders, seeking to collect around DKK850m (USD152m/EUR114m), the lender said today.

The issue, aimed at reinforcing Spar Nord's capital base, will be put to the vote of the bank shareholders at a special meeting slated for 1 March.

Spar Nord Bank expects to start the rights offer by end-March 2012.

Carnegie Investment Bank and Danske Bank will likely underwrite the entire issue, Spar Nord added.

The transaction is seen to increase the bank's Tier 1 equity ratio to 12.5%.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2012 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Feb 8, 2012
Words:123
Previous Article:SES-4 satellite planned to launch next week.
Next Article:-Multimedia Polska selects JPMorgan to explore growth options.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters