French asset manager Amundi has launched a capital increase amounting to around €1.4bn in order to finance the €3.54bn Pioneer Investments’ acquisition.
The remainder of the acquisition price will be financed through a combination of approximately €1.5 bn of
Amundi’s existing resources and around €600m aggregate principal amount of senior and subordinated debt of Amundi.
A total of 33,585,093 new shares will be issued through the rights offering. In details, each Amundi shareholder will receive one preferential subscription right for each share it holds.
Five preferential subscription rights will entitle holders to subscribe for one new share. The subscription price for the new shares has been set at €42.50 per share.
The rights trading period will last from 15 March to 29 March 2017.
Amundi has over €1trn in assets under management.