BRIEF-Steinhoff Launches Placing Of Up To 694.2 Mln Shares In KAP Industrial March 26 (Reuters) - Steinhoff International Holdings NV : * LAUNCH OF PLACING OF UP TO 694,206,661 SHARES IN KAP INDUSTRIAL HOLDINGS LIMITED * TO APPLY PROCEEDS FROM SALE OF PLACING SHARES TO MEET OBLIGATIONS ARISING FROM ITS ANNOUNCED DEBT RESTRUCTURING PROCESS * DECIDED TO LAUNCH ACCELERATED BOOKBUILD OF RESIDUAL INDIRECT SHAREHOLDING OF 694.2 MILLION SHARES IN KAP INDUSTRIAL HOLDINGS LIMITED * IN EVENT THAT ALL OF PLACING SHARES SOLD PURSUANT TO PLACING, STEINHOFF WILL NO LONGER HOLD AN INTEREST IN KAP * IN EVENT THAT ALL OF PLACING SHARES ARE SOLD, MEMBERS OF KAP'S BOARD OF DIRECTORS NOMINATED BY STEINHOFF INTEND TO RESIGN * BOOK WILL OPEN WITH IMMEDIATE EFFECT AND IS EXPECTED TO CLOSE AS SOON AS POSSIBLE * PRICING AND ALLOCATIONS WILL BE ANNOUNCED AS SOON AS PRACTICABLE FOLLOWING CLOSING OF BOOK * PLACING WILL BE CARRIED OUT BY STANDARD BANK OF SOUTH AFRICA LIMITED AND INVESTEC BANK AS JOINT BOOKRUNNERS
Source text for Eikon: [ID:nJseZ0063a] Further company coverage: [SNHJ.J]
((Reuters.Briefs@thomsonreuters.com;))
Rank : negative |