The Italian investment fund launches into the hospital innovation sector. This morning the agreement established with Tbs Group, the leading company in Italy and Europe in telematic healthcare systems was announced. The Fii will invest 20 million euros in the Group in two separate tranches. Initially, it will subscribe to a reserved capital increase of 10 million euros - at a price of 1,8 euros per share - coming into possession of 13,17% of the share capital. In a second step, the Fund will subscribe to a convertible bond loan, for a total of 10 million euros, of which 4,3 million bonds with a nominal value of 2,30 euros each (with a yield of 8%).
The conversion can be exercised, even only partially, by 31 December 2014 and newly issued Tbs ordinary shares will be obtained in exchange for each bond converted. If he uses this option for all 4,3 million bonds, the Italian investment fund will have a stake of 21,2% of the capital of Tbs Group.
This operation was judged more than positive by analysts and investors. The title Tbs aa Business Square earn the11,64% after he was suspended several times this morning for excess of an increase.
