Fortis señala a otros para desviar la atención ... es el Fortis el que va a petar!
Fortis busca urgentemente 1.500 millones de euros. Dejará de pagar dividendos.
Fortis launches urgent €1.5bn cash call
June 26, 2008
The Belgian-Dutch Bank Fortis said today it is accelerating its mammoth fundraising plans raising an immediate €1.5 billion (£1.2 billion) and scrapping its interim dividend this year. It said: “current exceptional circumstances necessitate these exceptional measures”. Its shares fell 6.9 per cent in Brussels trading this morning.
Fortis, one of Europe’s largest financial institutions worth an estimated €28 billion, said it planned to boost its solvency by more than €8 billion over the next two years, including issuing new shares and selling off assets.
The bank said that the decision to issue €1.5 billion worth of new shares with immediate effect was “well within the mandate given by shareholders to the Board" with Merrill Lynch International, JP Morgan, Fortis Bank and Morgan Stanley all running the book on the new shares.
The bank also announced that it was scrapping its interim dividend this year worth €1.3 billion describing the decision as an exceptional, but temporary measure. However, the bank would not confirm categorically when the dividend payment would be reinstated, saying that it intended to pay an interim dividend “probably as early” as 2009.
Fortis busca urgentemente 1.500 millones de euros. Dejará de pagar dividendos.
Fortis launches urgent €1.5bn cash call
June 26, 2008
The Belgian-Dutch Bank Fortis said today it is accelerating its mammoth fundraising plans raising an immediate €1.5 billion (£1.2 billion) and scrapping its interim dividend this year. It said: “current exceptional circumstances necessitate these exceptional measures”. Its shares fell 6.9 per cent in Brussels trading this morning.
Fortis, one of Europe’s largest financial institutions worth an estimated €28 billion, said it planned to boost its solvency by more than €8 billion over the next two years, including issuing new shares and selling off assets.
The bank said that the decision to issue €1.5 billion worth of new shares with immediate effect was “well within the mandate given by shareholders to the Board" with Merrill Lynch International, JP Morgan, Fortis Bank and Morgan Stanley all running the book on the new shares.
The bank also announced that it was scrapping its interim dividend this year worth €1.3 billion describing the decision as an exceptional, but temporary measure. However, the bank would not confirm categorically when the dividend payment would be reinstated, saying that it intended to pay an interim dividend “probably as early” as 2009.
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