Meyer Burger sets terms for CHF 250m share issue
- Meyer Burger Technology AG (SWX: MBTN) on Friday unveiled the terms for a share issue in which the Swiss solar module producer is seeking CHF 250 million (USD 252.21 m/EUR 251.28 m) in gross proceeds to finance the expansion of its annual production capacity to regarding 3 GW.
The offering will certainly consist of up to 934.6 million new shares as well as existing shareholders will be entitled to sign up for 7 new shares for every 20 shares held at a cost of CHF 0.267 per new share.
The subscription period will run in between November 1 and November 9 with the new shares anticipated to begin trading on the securities market in Zurich on November 11.
Meyer Burger noted that all members of the business's monitoring and also board of supervisors will participate in the capital increase.
The share issue was authorized with a large bulk by the company's amazing investors' meeting held on October 28.
The proceeds from the transaction will be utilized to raise Meyer Burger's manufacturing capacity much more rapidly to get to regarding 3 GW by the end of 2024. Then, the business aims to have 1.4 GW of module production capacity in Freiberg, Germany, and also regarding 1 GW in Goodyear, Arizona.
