Exista hf.
Results of Placing of Shares in Sampo
Exista hf. / Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Results of Placing of Shares in Sampo Exista hf. announces the completion of a bookbuilding offering of 114,257,867 shares or its entire shareholding in Sampo Oyj, representing an aggregate of 19.98% of Sampo's share capital. The shares were sold to a number of institutional investors at a price of €11.50 per share. Exista will book a loss of €1.4 billion in the fourth quarter due to the sale. The transaction will lead to a €1.3 billion reduction in the group's total liabilities. Following the transaction, Exista and its affiliates do not own any further shares in Sampo. Citigroup Global Markets Limited and Morgan Stanley & Co. International plc acted as joint global coordinators and joint bookrunners in the placing. Lydur Gudmundsson, Executive Chairman of Exista hf. comments: The successful sale of Exista's shares in Sampo significantly reduces our total liabilities and manages our exposure to deteriorating financial markets. We have no plans for further asset sales and believe our remaining portfolio of quality assets leaves us well placed for growth once this period of unprecedented market turbulence subsides. Enquiries: Exista hf. Group Communications Sigurdur Nordal Managing Director +354 550 8620 News Source: NASDAQ OMX 07.10.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Exista hf. Iceland Phone: Fax: E-mail: Internet: ISIN: IS0000013175 WKN: End of News DGAP News-Service ---------------------------------------------------------------------------
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found