Final results confirm oversubscription of rights offering
The final results for the rights offering show that 7,882,418,914 B shares or 99.7 percent of the new B shares offered, were subscribed for by the exercise of rights. Including the demand for shares on a non-preferential basis the offering was oversubscribed by approximately 37 percent. These subscription levels are slightly higher than the preliminary results announced on September 6, 2002. Gross proceeds in the rights offering will amount to SEK 30.1 billion.
26,335,197 unsubscribed B shares, representing 0.3 percent of the total rights offering, will be allocated to those who subscribed for such shares in accordance with the procedures as described in the rights offering prospectus.
The rights offering increases the number of series B shares by 7,908,754,111 and the share capital by SEK 7,908,754,111. Following the rights offering the share capital amounts to SEK 15,974,258,678 and the number of shares to 15,974,258,678 of which 656,218,640 are series A shares and 15,318,040,038 are series B shares.
The rights offering is expected to be concluded according to the following timetable:
September 13 No trading in BTA's or new B shares
September 16 Trading in new B shares and ADSs commences. Mailing of payment notice for new B shares allocated pursuant to subscriptions without preferential rights
September 19 Delivery of new B shares and ADSs to shareholders' accounts (subscribed for by exercising rights)
Payment for new B shares allocated pursuant to subscriptions without preferential rights. The shares will be delivered to shareholders' VP-accounts as soon as practicable following payment
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