OHL´s capital increase, 165% subscribed two days before the transaction deadline

At close of business today, two days before the deadline, OHL’s capital increase has been 165% subscribed, according to results provided by the agent bank.

The company’s Board of Directors had agreed to conduct a capital increase with preferential subscription rights, as decided by the Extraordinary General Shareholders Meeting held last 7 September.

This capital increase will be for a total cash amount of 999,070,641 euros, with the issue and circulation of 199,018,056 new shares, acknowledging a preferential subscription right in favor of the company shareholders and a subsequent listing of the new shares on the Madrid and Barcelona stock markets.

Last 7 October the prospectus of the transaction was registered at the Spanish Securities Market Commission (CNMV). Later, on 8 October, the offering was published in the Official Gazette of the Commercial Registry (BORME) and the preferential subscription period began, between 9-23 October. Preferential subscriptions will take place on 29 October and on 2 November trading will begin with the new shares.

As a result of the capital increase, the OHL Group will have a stronger and more sustainable capital structure, reinforcing the implementation of its Strategic Plan. It will also substantially reduce the company’s recourse debt and will create value by reducing its financing costs.