In the night the Board of Directors of Saipem established the conditions of thecapital increase of 3,5 billion of Euro approved by the assembly in early December. The transaction provides for a maxi issue discount, equal to 37% on the Terp. Monday next will start the negotiation of rights.
The recapitalization of the plant engineering company of the Eni group will take place through the issue of a maximum of 9.668.363.496 new ordinary shares with no par value. The securities will be offered as an option to those entitled to the relationship 22 new shares for each Saipem ordinary or savings share held.
Il issue price will be equal to 0,362 euro per share. The total value of the increase will therefore be 3.499.947.586 euros, half in share capital and half in share premium.
“The subscription price – reads a note from Saipem – was determined on the basis of the resolution of the extraordinary shareholders' meeting and by applying a 37% discount on the Terp of ordinary Saipem shares calculated on the basis of the official closing price of Stock exchange dated 21 January 2016, equal to 5,26 euros”.
IERI (Yesterday) the Saipem stock traveled against the tide, suffering a sharp drop (-5,68%) and closing at a reference price of 5,29 euros. This morning Saipem shares lost another 3,2%, to 5,12 euros.
