By Devika Patel
Knoxville, Tenn., July 7 - DS Smith plc said it raised £47.16 million in a private placement of shares via agent J.P. Morgan Securities Ltd. The deal was conducted through an accelerated bookbuild, which priced and settled Wednesday.
The company sold 39,296,253 ordinary shares at 120p each.
Proceeds will be used to fund the cash consideration of the company's planned acquisition of the Otor Group. The placing is not conditional on the acquisition's completion. If the acquisition does not proceed, DS Smith will use the proceeds for potential investment opportunities and general corporate purposes.
The packaging and office products wholesale company is based in Berkshire, England.
Issuer: | DS Smith plc
|
Issue: | Ordinary shares
|
Amount: | £47,155,504
|
Shares: | 39,296,253
|
Price: | 120p
|
Warrants: | No
|
Agent: | J.P. Morgan Securities Ltd.
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Pricing date: | July 7
|
Settlement date: | July 7
|
Stock symbol: | London: SMDS
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Stock price: | 128.5 at close July 7
|
Market capitalization: | £495 million
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