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Lonza to seek shareholder sign-off on 2.3 bln Sfr rights issue
March 30, 2017 / 5:30 AM / 8 months ago

Lonza to seek shareholder sign-off on 2.3 bln Sfr rights issue

ZURICH, March 30 (Reuters) - Lonza Group AG will ask shareholders at next month’s annual general meeting for permission to issue up to 2.3 billion Swiss francs ($2.3 billion) in new shares to finance its acquisition of U.S. capsule maker Capsugel, the Swiss pharmaceutical supplier said on Thursday.

Lonza expects to give further details on the rights offering on or around April 25, the company said in a statement announcing the invitation to its April 25 AGM.

Basel-based Lonza is paying for the $5.5 billion Capsugel deal through a mixture of new shares and debt, and will communicate the exact split of the financing at a later date. In February, it raised gross proceeds of 865 million francs through an accelerated bookbuilding.

($1 = 0.9971 Swiss francs)

Reporting by Joshua Franklin

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