Nordic Business Report-August 30, 2006-Iceland's Marel offers new shares worth ISK5.55bn
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Icelandic food processing company Marel will be offering a total of 75 million shares to investors, the company announced on Wednesday (30 August).
The offer will be in three parts, an offer to pre-emptive right holders, another to institutional investors and a third to the general public.
The shares will be offered for sale at a price of ISK74 per share, making the total selling price of new shares as much as ISK5,550m (EUR62m).
Iceland's Landsbanki is fully underwriting the share offer at the offer price.
The objective of the offering is to provide further support for Marel's growth, the company said.
A total of 15 million new shares will be offered to the general public. Investors may subscribe for a maximum of 10,000 shares in this part of the offer, or a maximum market value of ISK740,000.
One Icelandic krona (ISK) is worth approximately 0.007 British pounds (GBP).
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