E.ON SE, an energy utility company, has announced a private placement of 200,099,000 ordinary registered shares at a price of EUR6.75 (USD7.17) per share, for gross proceeds of EUR1.35 billion (USD1.43 billion). The placement will be subscribed to by institutional investors.
The shares will be issued by means of an accelerated book-building process and will carry full dividend rights starting from January 1, 2016.
As part of the transaction, E.ON has agreed to a six months lock-up period with respect to any transaction related to its shares, subject to customary exceptions, including offering its shares to its shareholders in the context of a scrip dividend.
The shares will be admitted to trading on the regulated markets of the Berlin, Dusseldorf, Frankfurt, Hamburg, Hannover, Munich and Stuttgart stock exchanges with simultaneous admission to the sub-segment of the regulated market with additional post-admission obligations (Prime Standard) of the Frankfurt Stock Exchange without publication of a prospectus.
Bank of America Merrill Lynch (Bank of America Corporation) and Citigroup Inc are acting as joint book-runners to the company for the offering.
The company intends to use the proceeds to strengthen the equity and liquidity basis.