Munich Re Ups Share Offering Price
By Lisa S. Howard, International Editor
NU Online News Service, Oct. 24, 10:48 a.m. EDT, London?Munich Re has increased the subscription price for its planned share offering from 75 euros ($88.40) per share to 78 euros ($91.90) per share.
As a result, the company expects to raise nearly 4 billion euros ($4.7 billion) in equity, up from an original projection of 3.8 billion euros ($4.5 billion) in equity.
Munich Re attributed the new subscription price to "the positive reception which the intended issue [of shares] has met from investors and the favorable performance of Munich Re's share price?."
The subscription period for the new Munich Re shares will probably begin on Wednesday and end on Nov. 10, the company said.
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