Bang & Olufsen seeks rights issue to cope with coronavirus crisis

Bang & Olufsen A/S

12/05/2020 07:52

COPENHAGEN, May 12 (Reuters) - TV and stereo maker Bang &
Olufsen  BO.CO  on Tuesday said it will ask shareholders at an
extraordinary general meeting to approve a 400 million crown
($57.99 million) rights issue to help the struggling company
through the coronavirus crisis.  
    "Bang & Olufsen is in a serious situation, where we need to
raise new capital to help us get through the global COVID-19
crisis," said chairman of the Danish company, Ole Andersen, in a
statement. 
($1 = 6.8974 Danish crowns)
    

 (Reporting by Stine Jacobsen, editing by Louise Heavens)
 ((stine.jacobsen@thomsonreuters.com; +45 21 56 90 10; Reuters
Messaging: stine.jacobsen.thomsonreuters.com@reuters.net))