Nacon: launch of a capital increase
(CercleFinance.com) - On Wednesday, Nacon announced the launch of a capital increase with preferential subscription rights (DPS) of around 16.
50 million euros, which could be increased to 19 million euros if the extension clause is exercised in full.
The video game publisher says it plans to place around 15 million new ordinary shares on the market, or a maximum of 17.2 million shares, at a unit price of 1.10 euros.
By way of comparison, the share price closed at 1.15 euros last night.
Under the terms of the operation, each shareholder will receive one preferential subscription right per share, based on 47 preferential subscription rights giving entitlement to subscribe to eight new shares at a price of 1.10 euros.
As an indication, a shareholder holding 1% of the capital before the capital increase and who would not participate in it would find himself diluted up to 0.84% at the end of the fund raising.
In a press release, Nacon specifies that the operation is already more than 80% secured by the subscription commitments of its historical shareholders.
The proceeds of the issue should enable it to pursue the development of new video games, which, given the development cycle, will not be marketed for three or four years.
Nacon - which releases between 10 and 15 games a year, and claims to have some 50 games in development - recently declared that it was approaching its new financial year with confidence, both in terms of planned line-up releases and new accessory ranges.
Following these announcements, the share price showed a limited decline of around 1.2% on Wednesday morning on the Paris Bourse.
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