SCOR announces the successful completion of its EUR 377 million capital increase with preferential subscription rights
SCOR announces the successful completion of its EUR 377 million capital increase with preferential subscription rights.
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The share capital increase with preferential subscription rights launched by SCOR on November 14 to partially finance the acquisition of Revios was successfully completed. The gross proceeds amount to EUR 377 million and 215 282 014 new shares will be issued.
Total demand amounts to about EUR 1.314 billion, i.e. an exceptional subscription rate of 348%, significantly above the levels reached by capital increases done in the market over the last two years. 210 916 264 new shares were subscribed through the exercise of rights on a non-reducible basis, i.e. 98 % of the total number of new shares. Orders for 539 896 509 new shares subscribed on a reducible basis will as a result only be satisfied in part, i.e. for 4 365 750 new shares.
The settlement and listing of the new shares on Euronext Paris will take place on December 12, 2006. As from December 12, 2006, the share capital of SCOR will comprise 1,184,051,084 shares.
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