(Alliance News) - Franchetti Spa on Wednesday announced that the board of directors has resolved to increase the company's share capital, for cash and in divisible form, by a maximum amount of EUR6 million, including share premium, through the issuance of up to 1 million new ordinary shares, with no indication of par value and having the same characteristics as those already outstanding.

The capital increase is offered for subscription at a price of EUR5.90 per new share, of which EUR0.05 is to be charged to share capital and EUR5.85 is to be charged to share premium.

The company explained that the capital increase aims to quickly and efficiently raise new resources to strengthen Franchetti's capital structure and support its growth and development projects, enabling leading investors to enter its share capital.

Thus, Franchetti announced the start of an accelerated bookbuilding procedure targeting the maximum 1 million new shares at a price of EUR5.90 each and exclusively to qualified and institutional investors.

Franchetti closed flat at EUR7.20 per share.

By Claudia Cavaliere, Alliance News reporter

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