Amundi has launched a rights issue to finance a portion of its acquisition of Pioneer Investments from Unicredit.
The firm announced it would acquire Pioneer Investments last December for €3.5bn following months of speculation. The rights issues will enable Amundi to finance a portion of the acquisition with the remainder financed by Amundi's existing resources and senior and secured debt. Some 33,585,093 new shares will be issued and each Amundi shareholder will receive one preferential subscription right for each share it holds. The subscription price for new shares has been set at €42.50 per share (nominal value of €2.50 and issue premium of €40). This represents a discount of 22.6% ...
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