Business Services Industry
Klippan AB to raise SEK200m in new share issue
Nordic Business Report, May 19, 2005
NORDIC BUSINESS REPORT-19 May 2005-Klippan AB to raise SEK200m in new share issue(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish speciality papers producer Klippan AB said on Wednesday (18 May) that it had decided to carry out a SEK200m new share issue with preferential rights for existing shareholders.
The new share issue is part of the restructuring and refinancing of Klippan, which has recorded losses over the last few years due to the recession in the industry.
"The money raised from the new issue will be used to carry out the structural changes decided by the board, and to create financial freedom of movement, as well as to enable some repayment of loans from financial institutions," Klippan said.
One Swedish krona (SEK) is worth approximately 0.07 British pounds (GBP).
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