The new share issue in Securitas AB oversubscribed
The new share issue in Securitas AB totaling approximately SEK 3 billion has been well oversubscribed. It has been placed with institutional investors in Sweden, the rest of Europe and the USA and substantially broadens the ownership shareholder base of the company.
The Board of Directors of Securitas AB, has today decided, pursuant to the authorization given by the Annual General Meeting on April 15, 1999, on a new share issue of 24,347,826 series B shares. The Board has also agreed to grant to the Managers of the new share issue an option to subscribe for an additional 3,652,174 new series B shares within 30 days of this announcement. The subscription price for the new shares is SEK 124 per share,(equal to the closing market price on April 20, 1999), and shall be paid in cash on April 26, 1999.
The new share issue strengthens the capital base for the future expansion of the Group.