Impregilo S.p.A. announced the results of its share capital increase at the close of the rights offer to Impregilo shareholders on up to 324,956,544 ordinary shares, for a value of 649,913,088.
The offer, held from 13 June to 1 July 2005, closed successfully, with shareholders exercising 73,384,345 rights or 99.36% of the total offer, corresponding to 322,891,118 new ordinary shares for an overall value of 645,782,236.
Impregilo also said that, in accordance with previous undertakings, and in respect of the overall amounts specified above, Gemina S.p.A. and IGLI S.p.A. had exercised 6,596,870 and 11,366,090 rights respectively, accounting for 8.93% and 15.39% of the total offer and corresponding to 29,026,228 and 50,010,796 new ordinary shares, for an overall value of 58,052,456 and 100,021,592.
At the close, 469,415 rights had not been exercised, accounting for 0.64% of the total offer and corresponding to 2,065,426 new ordinary shares, for an overall value of 4,130,852.
The unexercised rights will be offered on the Borsa Italian automated trading system during the 7, 8, 11, 12 and 13 July 2005 sessions, through Banca IMI S.p.A.
All the unexercised rights will be offered at the first session; any rights that are not placed will be offered at the subsequent sessions.
"The success of the rights issue reflects the market's interest in our company and the new business plan," commented Impregilo S.p.A. Chief Executive Officer Alberto Lina.
"The share capital increase completes our financial re-organisation," Lina added. "Now the company can launch its strategic programme to strengthen its focus on its Engineering & Construction core business and reduce invested capital."