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General

KPN launches discounted share offering

Thursday 25 April 2013 | 10:29 CET | News
KPN has launched its previously announced issue of 2.838 billion shares, at a price of EUR 1.06 each. The operator announced the issue on 20 February; it was then approved on 10 April at the company's AGM. The 2-for-1 share issue is at a 35.1 percent discount to an ex-rights price, a theoretical share price following the issue. The Dutch operator's largest shareholder, America Movil said it would subscribe to the issue pro rata for its 29.7 percent stake, and the rights offering is fully underwritten by a syndicate of banks.

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Categories: General
Companies: KPN
Countries: Netherlands
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