By Devika Patel
Knoxville, Tenn., June 25 - Scandinavian Property Development ASA announced it will raise up to NOK 700 million in a private placement of shares.
The company will sell up to 700 million shares at NOK 1.00 each.
SEB Enskilda AS is the manager.
Proceeds will be used to strengthen the company's financial position, repay a loan and prepare the company for the coming development at Fornebu.
Scandinavian Property Development is a Snaroya, Norway-based real estate company.
| Issuer: | Scandinavian Property Development ASA
|
| Issue: | Stock
|
| Amount: | NOK 700 million
|
| Shares: | 700 million
|
| Price: | NOK 1.00
|
| Warrants: | No
|
| Manager: | SEB Enskilda AS
|
| Pricing date: | June 25
|
| Stock symbol: | Oslo: SPDE
|
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