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Successful completion of Lafarge €1.5 billion rights issue
Successful completion of Lafarge €1.5 billion rights issue
- 31st May 2009
- Materials Handling
Date 04/24/2009
Lafarge announces today the successful completion of its €1.5 billion capital increase. The final proceeds of the capital increase are €1,500,317,581, through the issuance of 90,109,164 shares.
With the capital increase, launched on April 2nd, the Group completed a key step of the € 4.5 billion platform of assertive measures announced on February 20, 2009 to strengthen its financial structure. This demonstrates the Group's commitment to rapidly implement its plan, which includes ongoing operational efforts to reduce costs, lower capital expenditures and working capital along with the implementation of a €1 billion divestment plan in 2009.
Total orders were approximately € 2.6 billion, a subscription rate of 172%. 88,494,750 shares were subscribed on an irrevocable basis.
Settlement, delivery and listing of the new shares are scheduled to take place on April 28, 2009.
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