Deutsche Euroshop in €123M Rights Issue

HAMBURG- Locally based listed retail mall investor Deutsche EuroShop is making a rights issue of up to 6.3m common shares, 16.7% of current registered capital, with existing shareholders offered a ratio of 1:6 at a subscription price of 19.50. If fully taken up, the rights issue will bring in around €123 million; its share was last trading at €23.80.

Subscription period began on Jan. 15 and is expected to end on Jan. 29. With new shares entitled to full dividend for fiscal year 2009, the rights offering is directed exclusively to existing shareholders of the company. Any new shares not subscribed can be acquired exclusively by existing shareholders by means of a supplemental subscription at the subscription price. Binding offers must be delivered during the subscription period.