Bavarian Nordic A/S completes fully subscribed rights issue
Bavarian Nordic A/S offered 1,275,236 new shares with a nominal value of DKK 10 each at DKK 365 per share in the period from 10 March to 23 March 2007. The new shares were offered with pre-emption rights for the company’s existing shareholders at a ratio of 1:5. The rights issue was underwritten by FIH Erhvervsbank A/S and Nordea Bank Danmark A/S and accordingly fully subscribed. Bavarian Nordic A/S receives gross proceeds of DKK 465 million.
A number of the existing shareholders, A.J. Aamund A/S, PKA A/S and Fåmandsforeningen LD had given binding advance commitments for the exercise of their entire subscription rights equivalent to gross proceeds of DKK 119.7 million. A. J. Aamund A/S has subscribed new shares for approximately DKK 80.8 million. A minor part of the offering (0.7%) was subscribed according to the underwriting provided by FIH Erhvervsbank A/S and Nordea Bank Danmark A/S.
The new shares will carry rights and be eligible for dividends from the time of the registration with the Danish Commerce and Companies Agency on 28 March 2007.
The new shares are expected to be listed on Copenhagen Stock Exchange on 29 March 2007. As soon as possible hereafter, the existing and the temporary securities code will be merged. After registration of 1,275,236 new shares with a nominal value of DKK 10 each, Bavarian Nordic’s nominal share capital will be DKK 76,514,160 equivalent to 7,651,416 shares, each with a nominal value of DKK 10.
