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VIPsight

Corporate Governance – portrayed in the individual cultural and legal framework, from the standpoint of equity capital.

VIPsight is a dynamic photo archive, sorted by nations and dates, by and for those interested in CG from all over the world.

VIPsight offers, every month:
transparent and independent current information / comments / facts and figures on corporate governance locally and internationally,

  • written by local CG experts,
  • selected and structured by the Club of Florence,
  • financed by its initiator VIP and other sponsors with a background of “Equity and Advisory” interests.
     

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On 22 May Commerzbank announced the modalities of its rights offering. The capital increase is worth 5.3 billion euros. Overall, the bank is putting 2.44 billion new shares with dividend rights on the market as from 1 January, at a price of €2.18 per unit. The number of shares nearly doubles, to 5.11 billion. For existing shareholders, the capital increase will mean a significant dilution of their shares. They were offered the new shares for subscription at an eleven to ten ratio. The bank received more than 18 billion euros in State aid during the financial crisis.

 

Klöckner & Co has set going its announced capital increase by about 50 percent, to arrange for more acquisitions of distributors and service centres. The capital increase will now be conducted in full and 33.25 million new shares at a par value of €2.50 will be issued. The subscription price is set at €15.85 and the subscription ratio is two to one. The subscription rights can be exercised until 9 June. The share capital will thereby be increased by a maximum of 83 million euros, to up to 249 million. The gross proceeds would according to the steel trader amount to about 527 million euros.