Zurich Financial Services has announced that a syndicate of banks has underwritten its capital increase of £1.6bn.
The rights issue will be at a minimum issue price of £27.8 per share at a discount ...
Zurich Financial Services (ZFS) has announced that a syndicate of banks has underwritten its capital increase of £1.6bn.
The rights issue will be at a minimum issue price of £27.8 per share at a discount of 52% of the closing price of the shares, at £57.87 on September 16.
A syndicate of banks will underwrite the rights issue including: Credit Suisse First Boston, Goldman Sachs International, Schroder Salomon Smith Barney and UBS Warburg.
ZFS chief executive officer James Schiro said: "The capital increase is the cornerstone in our programme to increase risk-based capital by up to $5bn. We believe this capital will enable us to generate sustainable and profitable growth."
The capital increase will be formally agreed at an EGM on 11 October.
