Home / Knowledge / News / Apparel/Garments / Dufry publishes terms of planned capital increase
Dufry publishes terms of planned capital increase
26
Jun '14
Dufry AG announces the terms of the planned ordinary capital increase in connection with the acquisition of The Nuance Group previously announced on June 4, 2014. The envisaged gross proceeds of the capital increase of approximately CHF 725 million are planned to be used to fund this acquisition.
 
The Board of Directors proposes to the Extraordinary General Meeting to be held to increase the share capital of Dufry from currently CHF 154,525,280 by up to CHF 27,269,160 to a maximum amount of up to CHF 181,794,440 through the issuance of up to 5,453,832 fully paid-in new registered shares with a par value of CHF 5 each.
 
Pre-emptive rights of existing shareholders will be preserved and granted in the capital increase, which is intended to be executed as an “at-market” rights offering. The new shares will be offered to existing shareholders at a ratio of 3 new shares for each 17 existing shares held. The pre-emptive rights will not be tradable and will lapse if not exercised during the rights exercise period.
 
Assuming that the Extraordinary General Meeting approves the proposal by the Board of Directors for the ordinary capital increase, the rights exercise period for the rights offering is expected to start on July 1, 2014 and to end on July 7, 2014, 12:00 noon CEST. The offering and listing prospectus will be published on June 27, 2014.
 
Dufry’s reference shareholder group led by Travel Retail Investments, which holds 22.2% of Dufry’s share capital, has irrevocably committed to vote in favour of the capital increase at the Extraordinary General Meeting and intends to exercise its pre-emptive rights.
 
The rights offering will be made to existing shareholders, subject to certain legal limitations based on residency. Shares not taken up by existing shareholders may be offered to investors by way of a public offering in Switzerland and private placements in certain jurisdictions outside Switzerland in compliance with applicable securities laws ("International Offering").
 
The final number of new shares to be issued will be fixed after the end of the rights exercise period and shall be announced on July 7, 2014. The number of new shares will be determined on the basis of the number of exercised pre-emptive rights, investor demand in the International Offering, the market price of the existing shares of Dufry and general market conditions.
 
The subscription and offer price for the new shares will be determined following a bookbuilding process for the shares not taken up by existing shareholders. The bookbuilding starts on July 1, 2014 and is expected to end on July 8, 2014, 15:00 CEST. The subscription and offer price is expected to be announced on July 8, 2014. The new shares are expected to commence trading on SIX Swiss Exchange on July 9, 2014 and settlement and delivery of the new shares against payment of the subscription and offer price is expected to occur on July 14, 2014.
 

Dufry


Must ReadView All

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search