Nicox Launches EUR70 Million Rights Issue
PARIS -(Dow Jones)- French pharmaceutical company Nicox (COX.FR) Wednesday
announced the launch of a rights issue of approximately EUR70 million, in which
preferential subscription rights will be given to all existing shareholders.
MAIN FACTS:
- The rights issue follows the successful completion of a EUR30 million
private placement on Nov. 18 2009.
- The private placement was oversubscribed and Nicox decided to offer the
maximum number of authorized shares to institutional investors, including a
cornerstone EUR20 million investment by the Fonds Strategique d'Investissement,
or FSI.
- The FSI currently holds a 5.1% stake in Nicox.
- The FSI plans to invest a total of EUR25 million, has expressed its
intention to fully subscribe to its rights and may subscribe for an additional
amount on a reducible basis.
- On the basis of Nicox's closing share price on Nov. 24, the subscription
price of EUR3.49 euros represents a 42% discount to the theoretical ex-right
price, with the theoretical value of a preferential subscription right amounting
to EUR0.99.
- The subscription period will be open from Nov. 26 to Dec. 9 2009 inclusive.
- By Paris Bureau, Dow Jones Newswires; +331-4017-1740; ruth.bender@
dowjones.com
(END) Dow Jones Newswires
11-25-090237ET
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