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D. Carnegie plans 1B Swedish kronor rights offering

Stockholm-based diversified real estate company D. Carnegie & Co AB plans to conduct a 1.0 billion-Swedish-kronor rights offer to fund renovations of its current portfolio and future acquisitions.

Vega Holdco Sarl, shareholder of 56.39% of D. Carnegie's capital, has fully guaranteed the rights issue of class A and B shares, and existing shareholders will be given preference to subscribe for new shares of the same class. Shareholders will be entitled to subscribe for one new share for every seven shares owned, at a subscription price of 90 kronor per share.

Those shareholders that do not participate in the offering will be diluted by about 14%.

The subscription period will run from March 9 to March 23, and the record date is March 7.

As of Feb. 28, US$1 was equivalent to 8.27317 Swedish kronor.