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Business

Bang & Olufsen raises 259 million from capital increase

New shares in luxury electronics company fully subscribed for after one day


Some of the money will be spent on research and development (Photo: Scanpix)

June 20, 2014
12:39

by Philip Tees


Bang and Olufsen announced this morning that it has finalised a capital increase by issuing shares with a nominal value of more than 39 million kroner. The issuance, which was announced yesterday, was fully subscribed.

The shares, with a nominal value of 10 kroner each, were subscribed for at a price of 66 kroner each and they are expected to be listed on the Copenhagen Stock Exchange from June 27. Bang & Olufsen will receive gross proceeds of more than 259 million kroner from the allocation.

In a press release, the company stated that the funds will be used for investing in retail, marketing, and branding, as well as for research and development to strengthen its product portfolio.



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