RE:A thought on Umicore !0% block sale, Samsung and Amy...Correction: Umicore sold 10% NEW shares on Friday for a price of EUR 39.8 - total 22.4mio shares = Eur 892mio...now share price = Eur 47.06 - see below:
Umicore has announced today that it has raised € 892 million through an accelerated bookbuild conducted under private placement exemptions.
Umicore has placed 22,400,000 new shares with institutional investors and other investors as permitted under applicable private placement exemptions at a price of € 39.80 per share. The new shares represent 10% of the number of outstanding shares prior to the transaction. Upon closing, which is expected to take place on 12 February 2018, the total number of shares will amount to 246,400,000.
The proceeds of the accelerated bookbuild will be used to fund Umicore’s growth investments, particularly in cathode materials, and will provide Umicore with more financial flexibility to pursue potential acquisitions and partnerships that would further strengthen its offering in clean mobility materials and recycling.
Marc Grynberg, Chief Executive Officer commented: “I am delighted with this very successful transaction. We managed to raise close to 900 million EUR of new equity in about two and a half hours despite a challenging climate in global equity markets. I see this as a clear vote of confidence of our investors in the strategy and positioning of Umicore.”