Tuesday June 24, 12:55 PM
Stockmann completes 137 million euro share issue
HELSINKI (Thomson Financial) - Finnish retailer Stockmann Oyj (Berlin: SOMB.BE - news) said it has successfully completed a 137.4 million euro share issue to institutional investors to bolster its balance sheet following its acquisition of Swedish fashion chain Lindex (Stockholm: LDEX.ST - news) .
Some 5.6 million new shares were placed at 24.50 euro apiece.
Stockmann acquired fast-growing Lindex late last year for 851 million euro and is planning to expand the fascia into Russia during the second half of this year.
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