STOCKS NEWS EUROPE-SBM Offshore dips after share issue

Shares in Dutch maritime engineering group SBM Offshore NV (SBMO.AS) are down 4 percent as it says it will offer new shares for up to 9.2 percent of its existing share capital.

"As the projects financed by the equity issued will take a couple of years to be completed, we expect a 4 percent dilutive impact of the equity issue on our 2010 and 2011 estimates," Petercam analyst Luuk van Beek says.

SBM Offshore shares are the biggest decliner in the Amsterdam blue chip index .AEX, down 4.1 percent at 13.11 euros in early trade. For more double click on [ID:nLA10291]

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