STOCKHOLM: Serneke Group AB announced that the Company’s subscription ratio in the rights issue amounts to 187 percent.
The subscription period for the rights issue ended on 13 January 2021. The final result in the rights issue shows that 3,060,929 series B shares, corresponding to approximately 95.5 per cent of the offered shares, were subscribed for with subscription rights.
The remaining 143,851 series B shares have been allotted to those who have subscribed for shares without subscription rights. The rights issue is therefore fully subscribed and Serneke will receive proceeds amounting to approximately SEK 170 million before transaction costs.
The result shows that 3,060,929 series B shares, corresponding to approximately 95.5 per cent of the offered shares in the rights issue, have been subscribed for by the exercise of subscription rights. The remaining 143,851 series B shares that were not subscribed for with subscription rights have been allocated to those who have subscribed for shares without subscription rights in accordance with the principles described in the prospectus.
Interest in the rights issue has been high and consequently the rights issue was oversubscribed by 87 per cent. The rights issue is fully subscribed and none of the underwriting commitments have been utilised.
Notification regarding allotment of shares which have been subscribed for without subscription rights will be distributed on or about 19 January 2021 by a settlement note to subscribes or nominees. Subscribed and allotted new shares shall be paid in cash on the settlement date in accordance with the instructions on the settlement note, on or about 22 January 2021.
Nominee registered shareholders will receive notification regarding allotment of shares in accordance with the respective nominee’s procedures.
Through the rights issue Serneke will receive proceeds of approximately SEK 170 million before transaction costs. As a result of the rights issue, Serneke’s share capital will increase by SEK 320,478 to SEK 2,875,323.20. The total number of shares will increase by 3,204,780 shares to 28,753,232 shares.
The final day for trading in paid subscribed shares (BTA) are expected to take place during week 4, 2021. The new shares are expected to start trading on Nasdaq Stockholm during week 4, 2021.
Serneke is a rapidly growing corporate group active in contracting and project development. The Group was founded in 2002 and today has income of nearly SEK 6.7 billion and approximately 1,200 employees, organized into three business areas: Serneke Sweden, Serneke Invest and Serneke International. Through novel thinking, the Company drives development and creates more effective and more innovative solutions for responsible construction.
The Company builds and develops housing, commercial buildings, industri al facilities, public buildings, roads and civil engineering projects, and other infrastructure. The company’s customers consist of both public and commercial clients. The Company’s Swedish units operate nationwide and are organized into five regions: Sout h, West, East, Central and North, and are headquartered in Gothenburg. The Company’s Series B shares (SRNKE) have been listed on the Nasdaq Stockholm exchange since November 2016.
Leave a Reply