THQ Nordic: Directed rights issue for future acquisitions
Research Note
2017-09-20
08:55
Yesterday THQ Nordic announced a directed share issue of 7.2 million new Class B shares to Swedish and international institutional investors. The subscription price of 83 SEK per share was determined by an accelerated book-building procedure that was initiated after the market closed on the 19th of September. The company successfully raised SEK 598m before transaction fees through the right issue. We believe that the proceeds will mainly be used for further acquisitions of IPs and studios, and view the issue as positive due to its opportunistic nature.
KL
Kristoffer Lindström
Disclosures and disclaimers