• Twitter
  • Facebook
  • Instagram
  • Subscribe
  • Free Newsletter
  • My Account
Tyrepress
  • 0Shopping Cart
  • NewsNews
    • Latest News
    • Company News
    • UK News
    • Product News
    • International News
    • Retreading
    • Career Tracks
    • Motorsport
    • Video
    • Tyrepress Videos
  • Data
    • Leading Tyre Manufacturers
    • Leading Retailers (UK)
    • Social Media Ranking
    • Online Branding
    • Brand Finance rankings
    • Blue Light Fleet Analysis
    • Astutus Research analysis
    • Premium Report
  • Features
    • Goodyear to buy Cooper – special supplement
    • TPMS and Sensor Technology 2021
    • Tyre Industry Conference 2020
    • Online Tyre Business 2020
    • Aftermarket 2020
    • Tyre Recycling 2020
    • Kick-starting your business webinar May 2020
  • Business Directory
    • Browse Entries
    • List Your Company on the Business Directory
  • Jobs
    • Situations vacant
    • Career Tracks
  • Classifieds
  • Magazine
    • Latest Issue
    • Read Tyres & Accessories Magazine online
    • Goodyear to buy Cooper – special supplement
    • Magazine Archive
  • Shop
    • Subscription Shop
    • Report Shop
    • Directory Shop
  • About
    • Company Profile
    • Media Information
    • Frequently Asked Questions (FAQs)
    • Legal
    • Contact Us
  • Search
  • Menu
You are here: Home1 / News2 / Company News3 / Conti Completes Bookbuilding of New Shares

Conti Completes Bookbuilding of New Shares

Date: 12th January 2010 Author: Admin Comments: 0

Continental reports that the following news is not intended for direct or indirect release, publication or distribution into the USA, Canada, Australia or Japan, so T&A invites subscribers outside of these regions to read further.

Continental AG has placed a total of 31 million new shares after successful completion of an accelerated bookbuilt offering (ABO) on January 11. Members of a bank syndicate led by Deutsche Bank AG, Goldman Sachs International and J.P. Morgan Securities Ltd. placed 6.45 million new shares within the framework of the ABO. The allocation of shares, Conti notes, is subject to the exercise of subscription rights by existing free float shareholders. In addition to 24.55 million new shares placed at a fixed subscription price of 35 euros per share, a price of 40 euros per share was achieved for the remaining 6.45 million shares in the ABO. The gross proceeds of the rights issue is therefore expected to amount to approximately 1.1 billion euros upon completion of the ABO and assuming that all of the free-float shareholders will exercise their subscription rights.

“We take the view that the exceptionally positive reaction of investors to our capital increase confirms Continental’s good prospects in the future on the basis of an improved financial and capital structure. At the same time, the trust that investors have shown in our company encourages us in our plans to optimise the repayment schedule for our financial indebtedness in the same structured manner as we have thus far,” said Dr. Elmar Degenhart, chairman of Continental’s Executive Board.

Due to the issue of 31 million shares, the company’s share capital was increased by €79,360,000.00, from €432,655,316.00 to €512,015,316.48.

Related news:

  1. “Great Interest” Shown in Conti Capital Increase
  2. Conti completes final stage of VDO loan refinancing
  3. AXA Increases Continental Stake
  4. Conti to offer another Eurobond
Comments
Comments closed
Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
  • Per E-Mail teilen

Related Tags

Company News, Continental, financials, Japan, shares, USA

Advert Location 28

Top five articles this week

Advert Location 10

© 2020 - Tyrepress
  • Twitter
  • Facebook
  • Instagram
  • WhatTyre
  • Reifenpresse
  • PneusNews
Michelin Challenge Design Unveils 2011 Competition Theme Vredestein and Carlsson Announce Cooperation
Scroll to top