Italy's Prysmian completes €850 million capital hike to help fund Atkore deal (updated)

Atkore

11/09/2026 07:39

Recasts story with completion of capital increase, adds details
Sept 10 (Reuters) - Italian cablemaker Prysmian PRY.MI completed an €850 million  ($987 million) capital increase it had launched on Thursday to help fund its planned acquisition of U.S. electrical products maker Atkore ATKR.N.
 The world's largest cablemaker said on Friday it had placed 7 million newly-issued shares, equal to about 2.4% of its share capital, through an accelerated bookbuilding to institutional investors.
The new shares, which carry regular dividends rights and the same characteristics as existing shares, were sold at €121 each, Prysmian said in a statement.
It added that the offering was "multiple times oversubscribed" and due to be settled on September 15. 
The proceeds will be used to partially finance the planned all-cash $3.8 billion acquisition of Atkore.



($1 = 0.8613 euros)

 (Reporting by Anna Peverieri in Barcelona and Giulia Segreti in Rome; Editing by Susan Fenton and Alvise Armellini)
 ((Anna.Peverieri@thomsonreuters.com;))