HOCHTIEF : Capital increase at Hochtief that does not send great signals
>10% capital increase for Hochtief to strengthen the equity base, with ACS supporting - Hochtief has announced a 10% capital increase under which it will issue 7,064,593 new shares against a cash contribution and which has been carried out with the simplified exclusion of shareholders' subscription rights. The final terms of the transaction after the accelerated book building consist mainly of 1/ a subscription price of € 57.50 per share, which implies a 4.9% discount...Hochtief is a holding company. Through its subsidiaries, Co. operates as a construction company engaged in projects in the transportation, energy, and social and urban infrastructure sectors as well as contract mining. Co. provides its services through three divisions: HOCHTIEF Americas, which encompasses the construction activities of operational units in the U.S and Canada; HOCHTIEF Asia Pacific, which includes the construction activities and contract mining in the Asia-Pacific region; and HOCHTIEF Europe, which designs, develops, builds, operates, and manages real estate and infrastructure, with primary business in Europe as well as selected other regions.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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