10th Dec 2020 09:55
(Alliance News) - FTSE 100 information technology firm Aveva Group PLC on Thursday said its rights issue closed with valid acceptances for almost all of the total rights issue shares.
The 7 for 9 rights issue of 125.7 million rights issue shares at 1,255 pence per rights issue share was announced November 6 and closed on Wednesday this week with valid acceptances in respect of 124.6 million rights issue shares.
This represents around 99% of the total number of shares to be issued under the fully committed and underwritten rights issue.
The rights issues shares started trading, fully paid, on the Main Market of the London Stock Exchange at 0800 GMT.
Underwriters JP Morgan Securities PLC, Numis Securities Ltd, Barclays Bank PLC, BNP Paribas, and Banco Santander SA are obliged to "use reasonable endeavours" in order to procure subscribers for the remaining 1.1 million rights issue share not taken up already.
If unable to do so, they have agreed to subscribe for any remaining rights issue shares themselves at the rights issue price.
Shares in Aveva were up 1.4% at 3,331.00p in London on Thursday morning.
By Anna Farley; [email protected]
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