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The subscription period of HKScan Corporation’s directed share issue has ended on 14 June 2019 at 16.30. The Board of Directors of the company has resolved on 17 June 2019 on the completion of the offering in the following manner:
Directed share issue: In the offering, the company issues a total of 44,917,607 new series A shares in a directed share issue, provided that the new shares subscribed in the offering are paid according to the terms and conditions of the offering. As the offering was oversubscribed, the Board of Directors of the company resolved to use the upsize option according to the terms and conditions of the offering by increasing the number of the new shares by 7,417,607 new shares. The subscription price for each new share was EUR 1.60 per share. The company raises gross proceeds of approximately EUR 71.9 million in the offering (including subscriptions paid by setting off the outstanding receivables based on the notes issued by the company, in accordance with the terms and conditions of the offering).
The new shares are allocated in the following way, according to the terms and conditions of the offering: 1,066,416 new shares to private individuals and legal entities in Finland (the ”Public Offering”) and 43,851,191 new shares to institutional investors in the European Economic Area (the ”Institutional Offering”). The Board of Directors of the company accepted the subscriptions received in the Public Offering in full.
Approval of subscriptions: Notices of approval will be delivered electronically to investors on or about 17 June 2019 to the email address provided in the subscription form.
Payment of subscriptions in the institutional offering: Subscriptions made in the Institutional Offering must be paid in accordance with the instructions given by the subscription venue in the notice of approval so that the payment is in the company’s account no later than on 19 June 2019 at 16.00. In the Institutional Offering, if the subscription price is paid by setting off notes issued by the company, the company or its order will transfer the units of notes used for payment of the subscription price from the investor’s book-entry account to a book-entry account designated by the company.
Trading with the new shares is expected to commence on the official list of the Helsinki Stock Exchange on 26 June 2019 provided that Nasdaq Helsinki Ltd accepts the company’s application for listing.
Alexander Corporate Finance acts as the lead manager and the subscription venue of the offering.
|The subscription period for the offering began||3 June 2019 at 9:30|
|The subscription period for the offering ended||14 June 2019 at 16:30|
|Announcement of the final results of the offering||17 June 2019|
|The new shares offered in the offering are registered in the book-entry accounts of the investors||25 June 2019*|
|Trading with the new shares commences on the official list of the Helsinki Stock Exchange||26 June 2019*|
* The presented dates are estimates