Copyright © Inderes 2011 - present. All rights reserved.
  • Latest
  • Markets
    • Morning Review
    • Stock Comparison
    • Financial Calendar
    • Dividends Calendar
    • Research
    • Articles
    • Transcripts
  • inderesTV
  • Portfolio
  • Forum
  • Q&A
  • About Us
    • Our Coverage
    • Team
Regulatory press release

Scandinavian Biogas Fuels International AB (publ): Scandinavian Biogas announces fully secured share issues with a value of 136 MSEK; intends to carry out a rights issue of 10 MSEK

Read the release

The Transaction and the Rights Issue are intended to be carried out in party with support from the Board mandate received at the 2018 Annual General Meeting ("AGM"), and in party with support from the Board mandate proposed to the forthcoming 2019 AGM. The Company has already secured subscription commitments for the Transaction from all concerned parties. The Transaction and Rights Issue are expected to close during summer 2019.

The share price in the Transaction and Rights Issue will be 2,40 SEK/share. The Company intends to issue new shares with a total value of approximately 146 MSEK, corresponding to approximately 61 million new shares.

As part of the Transaction, AB Apriori has provided subscription commitments for 34,5 million shares, meaning that that AB Apriori will become a new significant shareholder and the third largest owner of the Company with more than 20% of the share capital and votes once the Transaction and Rights Issue closes. The reasons for deviating from the shareholders' preferential rights as part of the Transaction are to increase equity funding in a time- and cost-efficient manner, as well as to diversify the Company's shareholder base through the addition of a financial investor who can actively contribute to the Company's long-term development.

The proceeds from the new share issues are intended to be used to finance an improvement and expansion of Scandinavian Biogas' plant in Södertörn and to ensure certain working capital requirements.

Additional and more detailed information relating to the Transaction and Rights Issue will be made available through additional press releases to follow.

SV Ventures has acted as the Company's financial advisor and Cirio Advokatbyrå as its legal advisor in connection with the Transaction.

For further information, please contact:

Matti Vikkula
CEO Scandinavian Biogas
+46 (0) 70-597 99 38
matti.vikkula@scandinavianbiogas.com

The Company in brief:
Scandinavian Biogas is today one of the largest private producers of biogas as a vehicle fuel. The Company also operates a manufacturing plant for pre-treatment of food waste and industrial organic waste, as well as a plant for production of raw biogas in South Korea and a plant for production of liquid biogas in Norway.

The information in this press release is such that Scandinavian Biogas Fuels International AB (publ) must disclose in accordance with the EU Market Abuse Regulation (EU MAR) No. 596/2014. The information was submitted for publication, through the agency of the contact persons set out above, on June 5 2019, at 19:15 CET.

Find us on social media
  • Inderes Forum
  • Youtube
  • Instagram
  • Facebook
  • X (Twitter)
Get in touch
  • info@inderes.se
  • +46 8 411 43 80
  • Vattugatan 17, 5tr
    111 52 Stockholm
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Terms of service
  • Privacy policy
  • Disclaimer
Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.