March 28th, 2011 
davidguide SYDNEY (MarketWatch) — German automaker Porsche Automobil Holding SE said Sunday that it will issue ordinary and preferred shares at 38 euros ($53.3) a share. Net proceeds will amount to around 4.89 billion euros and will be used to repay liabilities under the firm’s credit facilities, it said. The firm will issue 65.63 million ordinary shares and 65.63 preferred shares. One existing share carries the right to subscribe for 0.75 new shares. All new ordinary shares will be underwritten by Deutsche Bank while all new preferred shares will be underwritten by members of a banking syndicate led by Deutsche Bank, J.P. Morgan Securities Ltd. and Morgan Stanley Bank.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
View full post on All Stories
Posted in 
Tags: