Cogelec: exercise of the over-allotment option

© Reuters. Cogelec: exercise of the over-allotment option

The group Cogelec announcement date, that the exercise of the over-allotment option, granted by its majority shareholder SRC at Louis Capital Markets, in the framework of the ipo of the specialist in access control in the collective habitat, has resulted in the sale of 258.688 additional shares, representing a total amount of 3.039.584 euros.

The gross proceeds of the transaction, after full exercise of the extension clause of and of the over-allotment option, amounted to approximately € 41.7 million.

‘The net proceeds of the sale of the shares to be transferred by the SRC (20 ME) was assigned to the repayment of its bank debt, financial and bond (up to a total amount of 6.785.304 euros). It will also be used to finance about 76% of the redemption price of the interests held by certain partners in the capital of the CBC, ” said Cogelec.

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