Capital Raising Confirmed

So the rumours were true...

3.5B Euro capital raising (64% of current market cap at 40 euros, and that's if they can raise without a discount which is unlikely), Price yet to be decided and will be voted/approved. Jointly underwritten by 6 underwriters, including their 2 largest owners, Goldman and JP. Morgan so they'll definitely make sure to sweeten it for themselves, and reduce share holder participation.

Sadly going to be a heavy dilution for us Australian Holders, and I assume we won't be able to participate in any raise being a CDI.

They dropped the news post market close, so we can expect a big reaction tomorrow. Sadly, it's the worst case announcement we could have had.

"The capital raise is subject to approval by URW’s shareholders and is expected to maintain existing shareholders’ subscription rights unless otherwise proposed to the Extraordinary General Meeting (“EGM”) of URW SE, to be convened, and expected to be held in Q4 2020. A notice for this EGM is expected to be published separately in due time.Upon approval of the capital raise by the EGM, and subject to market conditions and necessary regulatory approvals being received, final terms and conditions, including the subscription price, are expected to be determined and announced in Q4 2020, and the transaction to close by year-end. The prospectus to be issued by URW in connection with the capital raise will be subject to the visa of the the French Autorité des marchés financiers (the “AMF”) and the approval of the Dutch Autoriteit Financiële Markten (the “AFM”)."


How low do we go in next few weeks? $2.75? $2.5? $2? Can't see it head below 2 but it's going to break through 3 for sure.