La Perla to set in motion fully subscribed capital increase
The Italian luxury lifestyle company will implement the capital increase in two tranches within the next fourteen days.
La Pela gets financial boost. The Italian luxury lifestyle company, owned by the Sandine group, will increase capital by 45.5 million euros (49.8 million dollars) in order to pay a portion of its debt, strengthen the structure and finance future acquisitions, the company said in a statement.
Specifically, the capital increase will be divided into two tranches that must be executed within the next fourteen days. The first tranche will consist of twenty million new shares without subscription rights, while 24.5 million (26.8 million dollars) new additional shares will be issued in the second tranche.
As indicated by the company, La Perla intends to sell “exclusively sell the new shares to institutional investors in private placements and at a placement price reflecting current trading; today’s closing price was EUR 4.50.”
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