EUROPE/MIDDLE EAST/AFRICA

摘要

Chemicals company solvay reported take-up of 95.02% for its €1.5bn capital increase, proceeds from which will part-finance its US$5.5bn purchase of US peer Cytec alongside hybrid and senior debt instruments. Solvay offered 21.2m new shares on a 1-for-4 basis at €70.83, a then 29.2% discount to the €100.09 theoretical ex-rights price. There were acceptances for 20.12m shares. The rump of 4.21m rights were sold in an accelerated placing on Wednesday evening. Launched at 5.30pm in London, the placing completed by 7pm with pricing at €90.50, a 2.98% discount to Wednesday's close of €93.28. The rump was largely taken by existing shareholders and those that had used the capital increase as an entry point into the stock.