Linde to raise over 1 bln eur in private share sale
By Staff Reporter
Jul 10, 2012 10:39 AM EDT
Jul 10, 2012 10:39 AM EDT
German industrial gases producer Linde aims to raise over 1 billion euros ($1.23 billion) in fresh equity to fund the $4.6 billion purchase of U.S.-based Lincare Holding.
Linde said late on Monday that it would issue up to 13.0 million new shares in a private placement that excludes both subscription rights as well as a public offer.
At Monday's closing price of 115.20 euros that would lead to as much as 1.5 billion euros in gross proceeds before accounting for a likely discount offered to investors.
The issue price is expected to be set and published on Tuesday, it said.
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