Prysmian launches private placement of up to EUR 850 million in new shares - ATKR News | RalliesPrysmian launches private placement of up to EUR 850 million in new shares
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ATKR• Prysmian launches private placement to fund Atkore deal
- Prysmian launched a private placement via accelerated bookbuilding, issuing new ordinary shares in a capital increase of up to EUR 850 million.
- Proceeds are earmarked to partly fund the planned all-cash acquisition of Atkore at USD 95 per share, implying about USD 3.8 billion enterprise value.
- Share count will be set once the bookbuild prices; new shares will be listed on Euronext Milan and will be fully fungible with existing stock.
- The deal is targeted at qualified or institutional investors outside the U.S. under Regulation S, with U.S. sales limited to Rule 144A QIBs.
- Prysmian will observe a 90-day lock-up; BNP Paribas, Morgan Stanley Europe and Crédit Agricole CIB are acting as coordinators and bookrunners.
