Packaging giant BEWI successfully completes private placement, raises €25 million

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Five per-cent discount in BEWI share issue.

BEWI, which is big on salmon packaging, announced yesterday afternoon that it was going through with a private placement and share sale totalling EUR 25 million through a book building process.

On Friday morning, the company confirmed the completion of the private placement.

8,833,922 new shares were sold at a price of NOK 28.30 per share. The last trade stockprice on Thursday was NOK 29.80, which means a discount of NOK 1.50 or five per-cent per share.

The private placement was guaranteed by the company’s two largest shareholders, Frøya Invest and Kverva Industrier , the latter which is owned by SalMar’s Gustav Witzøe. Due to high interest and to increase the free float in the share, Frøya Invest was allocated fewer shares than their pro rata allocation, BEWI said.

The share issue amount primarily will go to finance the recently announced the acquisition (54.2 per-cent) of the shares in the Polish company IZOBLOK.