20th Nov 2020 08:27
(Alliance News) - Smurfit Kappa Group PLC on Friday said it had priced its non-pre-emptive share placing at EUR34.00 per share, raising gross proceeds of around EUR660 million.
The Irish paper and packaging firm announced the placing plans on Thursday and said at the time it intended to raise around EUR650 million, with Credit Suisse, Davy and BNP Paribas acting as joint global co-ordinators and joint bookrunners.
The placing shares represent around 8.1% of Smurfit's issues share capital before the placing and the placing price represents an approximately 5.8% discount to the closing price on Thursday.
Shares in Smurfit were down 3.0% at 3,126.00 pence in London on Friday morning.
Placing shares are not eligible for Smurfit's recently declared 27.9 euro cents per share dividend payable December 11. Directors and members of the senior management team bought 38,294 shares in total in the placing.
By Anna Farley; [email protected]
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