Schibsted's rights issue oversubscribed

Schibsted ASA (SCH) , Published 03/07/2009 14:09:00

The preliminary result of Schibsted’s rights issue indicate that approximately 38 million new shares, representing approximately 98% of the offered shares, were subscribed for with subscription rights and, additionally, approximately 16 million new shares were subscribed for without subscription rights. Thus, the rights issue is oversubscribed and the underwriting commitments do not need to be utilised.
Through the rights issue Schibsted will receive proceeds amounting to approximately NOK 1,318 million before transaction costs.
The new shares will be allocated according to the principles outlined in the prospectus published on 18 June 2009. Notifications of allocated new shares and the corresponding amount to be paid by each subscriber will be set out in a letter from the VPS, which will be mailed on or about 9 July 2009. Schibsted expect to issue a stock exchange notice announcing the final results of the rights offering prior to the opening of the Oslo Stock Exchange on or about 9 July 2009.
The new shares will be listed on the Oslo Stock Exchange as soon as the share capital increase has been registered with the Norwegian Register of Business Enterprises and the new shares have been registered with the VPS which is expected to be on or about 15 July 2009. The subscribers may not trade the new shares until they have been paid for and registered on each subscriber’s VPS account.
J.P. Morgan and SEB Enskilda acted as Joint Bookrunners for the rights issue.
Contact persons:
Trond Berger, CFO. Mobile: +47 916 86 695
Jo Christian Steigedal, VP Investor Relations, Mobile +47 415 08 733,
Oslo, July 3 2009
Jo Christian Steigedal
VP Investor Relations
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