Austrian sensor specialist AMS said on March 11 it would execute a planned rights issue from March 16 to March 30 to help pay for its 4.6 billion euro acquisition of German lighting group Osram Licht.
The sale of 189,869,454 new shares at 9.20 Swiss francs each was expected to raise 1.75 billion Swiss francs , AMS said. AMS shareholders will receive one subscription right per share. With four rights, shareholders will be able to buy nine new shares, the company said. AMS shares, which closed at 25.28 Swiss francs on March 10, were down 6.4% at 23.67 euros by 0954 GMT on March 11.
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