THE Desktop 🇧🇷DESK3) prepare a capital increasel of at least R$120 million and a maximum of R$300 million, through the issuance of ordinary actions for private subscription. The operation corresponds to up to 34.5% of its market value, currently around R$ 869.2 million.
According to the notice to shareholders released last night (02), at least R$ 50 million will be allocated to the capital reserve account. The remainder will go to the share capital account.
“The resources from the capital increase will be used to strengthen the company’s capital structure, in order to enable the acceleration of its avenues of organic and inorganic growth”, explains the company in the announcement.
With a net debt of R$576.6 million, Desktop is currently worth less than its net worth of R$939 million on the market.
Desktop will offer shares at a 12.5% discount
The company intends to issue at least 13.3 million shares and a maximum of 33.3 million. The subscription price per share will be R$9. The figure represents a 12.5% discount on the average price weighted by the volume traded in the last 30 trading sessions.
The subscription value is also 9.6% lower than the R$9.96 with which the share closed yesterday’s trading session (2nd), and is far from the R$23.50 for which each share was sold in its IPO (initial public offering), held in July last year.
With a free float (share of shares outstanding in the market) of 31.55%, and a base of approximately 7,500 shareholders, the company proposes that current shareholders subscribe 0.38197 new shares for each one they already own.
See the notice to shareholders on the issuance of shares.
Source: Moneytimes
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