TCN and Wedge no longer have stake in Ballast Nedam (NL)

Project developer TCN and investor Wedge have successfully placed their shares in the construction company Ballast Nedam. Both parties now no longer have any stake in Ballast Nedam.

Last Monday, TCN and Wedge already announced that they would place at least 4.3 million Ballast Nedam shares with institutional investors. Via an expansion option, this number was expanded to 4.8 million after which TCN and Wedge would hold no more shares in Ballast Nedam. This option has been used.

The price of the shares was set on €18.25 which means a discount of 4.5% compared to the closing price of the Ballast Nedam shares on Wednesday. TCN and Wedge had together built up an interest of 48% in Ballast Nedam. TCN planned to realize a stock quotation by taking over the construction company but Ballast Nedam wasn't interested.

Source: De Financiële Telegraaf

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