Brief: Volue Contemplates Private Placement And Listing On Merkur Market

Arendals Fossekompani ASA

05/10/2020 07:21

Oct 5 (Reuters) - Arendals Fossekompani ASA  AFK.OL :
    * VOLUE AS: CONTEMPLATED PRIVATE PLACEMENT AND LISTING ON
MERKUR
MARKET
    * PRIVATE PLACEMENT WILL CONSIST OF OFFER OF UP TO
15,625,000 NEW
SHARES RAISING GROSS PROCEEDS TO COMPANY OF NOK 500 AND A SALE
OF UP TO 15,625,000 EXISTING SHARES FROM ARENDALS FOSSEKOMPANI
    * PRICE PER SHARE IN PRIVATE PLACEMENT HAS BEEN SET TO NOK
32.00
EQUIVALENT TO A PRE-MONEY EQUITY VALUE OF COMPANY OF NOK 4,000
MILLION BASED ON 125 MILLION SHARES CURRENTLY OUTSTANDING IN
COMPANY.
    * VOLUE INTENDS TO USE NET PROCEEDS TO INVEST IN ORGANIC AND
IN-ORGANIC GROWTH INITIATIVES, BUILDING SCALE AND STRENGTHENING
ITS OPTIMISING SOLUTIONS AND GENERAL CORPORATE PURPOSES
    * VOLUE'S FIRST DAY OF TRADING ON MERKUR MARKET IS CURRENTLY
EXPECTED TO BE ON OR ABOUT 19 OCTOBER 2020

Source text for Eikon:  ID:nObisFHqQa 
Further company coverage:  AFK.OL 

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