Capital News

To finance a major order for over 12 million euros worth of traffic monitoring systems and installations outside Europe and further expected orders in this area of business as well as other growth, the board of the Jenoptik group has decided on an ex rights capital increase of €13,529,006.40. The 5,203,464 new bearer shares were successfully placed with institutional investors by Accelerated Bookbuilding procedure.

To finance the first tranche of its €16 billion takeover of Porsche, on 23 March Volkswagen started Germany’s biggest capital increase since 1999. After initial placement of up to 65 million preference shares with institutional investors, the remaining subscription rights of old shareholders can be traded and exercised between 31 March and 13 April. The subscription price was set at €65 per preference share on 26 March. The carmaker wants to take in some 4 billion euros this way. The capital increase has ended up lower than possible, following an announcement by VW management when presenting the final figures that as well as a capital increase it would also be using convertible bonds.