Rights issue in connection with the merger of MaxBank and Skælskør Bank
ATRIUM Partners advised Max Bannk and Skælskør Bank
Rights issue in connection with the merger of MaxBank and Skælskør Bank
Sector(s) : Financial services
Date : October 2010
Advisor(s) : Atrium Partners
Advised : Rights issue
Mid-Capital partner ATRIUM Partners advised Max Bannk and Skælskør Bank
ATRIUM Partners as Lead Manager for Max Bank rights issue.
Max Bank offers 4.157.625 new shares at a DKK 25 per share with pre-emptive rights for existing shareholders in a ratio of 5:6. Gross proceeds of DKK 103,9 mill. will after deduction of cost be used to strengthen the financial position of the bank to provide a solid buffer in case of possible future recession and fund future market opportunities.
A considerable part of the issued is guaranteed by financial institutions and institutional investors. The Danish government, as the main shareholder, has expressed an intention of, subject to unforeseen circumstances, to participate in the issue on a prorate basis.
ATRIUM Partners has as Lead Mangers for the rights issue coordinated the issue, including produced the prospectus, and handled the communication and coordination with Finanstilsynet and NASDAQ OMX.
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