ERJ staff report (DS)
Stockholm -- Hexpol AB, the custom compounder, said its rights issue was fully subscribed. Through the rights issue, Hexpol will receive proceeds amounting to approximately 551 MSEK (Euro 61.8 million) before transaction costs. The cash will be used largely to fund Hexpol's acquisition of Excel Polymers, a US-based custom compounder.
In a statement, Hexpol said, "The preliminary result of Hexpol's rights issue indicates that approximately 6.6 million shares, representing approximately 99.6 per cent of the offered shares, were subscribed for by the exercise of subscription rights. Additionally, subscription forms corresponding to approximately 1.7 million shares have been received for subsidiary preferential rights or without preferential rights."
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Press release from Hexpol