Tryg A/S completed the placing of 27.4 million new shares at an offer price of 147 Danish kroner per share, raising gross proceeds of 4.0 billion kroner.
The proceeds will be used to fund Tryg's 8.2 billion kroner acquisition of fellow Danish insurer Alka Forsikrings AS.
The nominal value of the new shares represents approximately 9.97% of the company's registered share capital prior to the capital increase, and will account for around 9.07% of Tryg's registered capital upon completion of the capital increase. The new shares will rank pari passu in all respect with Tryg's existing shares.
Following the capital increase, Tryg's share capital will consist of 302,147,991 shares with a nominal value of 5.00 kroner each.
Admission for listing of the new shares will take place Dec. 11.
PJT Partners (UK) Ltd. acted as lead financial advisor to Tryg in relation to the offering, while Nordea acted as sole book runner. Accura Advokatpartnerselskab acted as legal advisor to Tryg.
As of Dec. 5, US$1 was equivalent to 6.29 Danish kroner.
