The increase will be for a maximum of 551.9 million euros through the issuance of 1,126 million shares.
BBVA has called a extraordinary general meeting of shareholders that will be held on July 5that the Euskalduna Palace in Bilbao, in which he will propose the capital increase needed to carry out the exchange of shares with Banco Sabadell in the hostile takeover bid.
The maximum nominal amount of the expansion will be 551.9 million euros and will be carried out with non-monetary contributions, through the issuance and putting into circulation of up to 1,126 million shares, with a nominal value of 0.49 euros each, of the same class and with the same rights and obligations as the shares of BBVA currently in circulation.
The final amount of the capital increase will depend on the number of acceptances that are received by the shareholders of Sabadell. It will not involve any disbursement by BBVA shareholders.
The capital increase and the issuance of the new shares will be directed “exclusively” to Sabadell shareholders who attend the takeover bid, either by voluntarily accepting during the acceptance period or by virtue of the exercise of forced purchase and sale rights. resulting from the offer, as detailed in the agenda that BBVA published today in the CNMV.
Source: Eitb
I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.