Dutch engineering firm Fugro to issue 250 mln euros in new shares

Dutch marine engineering firm Fugro NV on Monday said it intends to issue 250 million euros ($295 million) worth of new shares, including a 196.7 million euro rights issue.

AMSTERDAM, Oct 19 (Reuters) - Dutch marine engineering firm Fugro NV FUGRc.AS on Monday said it intends to issue 250 million euros ($295 million) worth of new shares, including a 196.7 million euro rights issue.

The company said it would use proceeds to refinance its debt.

In a statement, the company said it had agreed a private placement of 53.3 million euros with several existing major shareholders including NN Investment Group and ASR Asset Management. The shareholders will also participate in the rights issue, the company said.

Fugro, whose shares have are down 70% so far this year, forecast that it would have full year 2020 earnings before interest, debt, and amortisation of around 150 million euros.

($1 = 0.8488 euros)

(Reporting by Toby Sterling)

((toby.sterling@thomsonreuters.com; +31 20 504 5002;))

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