Bilfinger Berger’s capital increase successfully completed
October 22, 2009
October 22, 2009
Bilfinger Berger’s capital increase successfully completed:
- Investors display confidence in corporate strategy
- Issue of 8.8 million new no-par value bearer shares
The capital increase with subscription rights for shareholders of Bilfinger Berger AG agreed on October 6, 2009 was successfully completed on October 21, 2009. “The strong interest in the new shares is proof of investor confidence in Bilfinger Berger’s corporate strategy”, emphasized Chairman of the Executive Board, Herbert Bodner.
By issuing 8,828,025 no-par value bearer shares, the Company’s share capital was increased by approximately 25 percent. A consortium of banks consisting of Commerzbank, Deutsche Bank and BNP Paribas committed to underwrite the new shares at a subscription price of €30.60 and to offer them to shareholders at a ratio of 1 for 4. Holders of subscription rights purchased 99.82 percent of new shares, the small number of remaining shares were sold by the bank consortium through the stock market. Based on the current number of shares in issue of 46,024,127 including treasury shares, market capitalization at yesterday's closing price of €48.66 was about €2.2 billion.
Gross proceeds of approximately €270 million from the issue will be used by Bilfinger Berger to partially finance the acquisition of 100 percent of the shares in industrial and power services provider MCE, headquartered in Linz, Austria, and to maintain the financial flexibility of Bilfinger Berger Group.
