Net Insight is currently carrying a rights issue worth approximately SEK 157 million. ABG Securities and Swedbank Markets are acting as advisors to the company.
The company's founders, Board of Directors and management will all participate in the rights issue. Major institutional shareholders such as 4:th National Pension Fund, Alecta, Aragon and Banco Fonder, also intend to take part.
Furthermore, an underwriting consortium has been formed, headed up by the Nordiska Fondkommission AB, in co-operation with ABG Securities and Swedbank Markets. The consortium has allocated a substantial part of the founders´ rights and in addition guaranteed subscription of shares in the rights issue. This means that approximately 65 percent of the rights issue has been allocated.
"Of course, it is a sign of strength that we have been able to allocate such a large part of the issue this early in the process. We have found this very helpful in our ongoing talks with clients and partners", says Chairman of the Board, Lars Berg.
The terms of Net Insight rights issue of approximately SEK 157 million is 2:5, i.e. five shares of both classes 'A' and 'B' gives the right to subscribe two new B-shares. Subscription price is set at SEK 10. Subscription will run between 7 June and 21 June. In addition, for every two new subscribed shares, one option will be issued that gives the right to subscribe for another new share at SEK 15 in June 2002. It is anticipated that the full execution of the options will give the company an additional SEK 118 million.
The terms of the rights issue need to be approved by the Extra General shareholders Meeting 28 May 2001.