UBS prices rights issue to raise $15.6 bln

Discussion in 'Stocks' started by ASusilovic, May 22, 2008.

  1. UBS, the Swiss investment-banking giant, price a public offering of 760.3 million rights designed to raise 15.97 billion Swiss francs, or about $15.6 billion. UBS holders will receive one right for each of their shares. Each 20 rights entitle the holder to buy seven new UBS shares at 21 Swiss francs each. That price is 31% below the closing price of UBS shares on Wednesday of 30.64 francs. After the transaction, UBS will have about 2.93 billion shares outstanding, the bank said. The deal has been fully underwritten by a group of banks led by J.P. Morgan, BNP Paribas and Goldman Sachs UBS said. The record date for the rights issue is May 26.}&dist=msr_1

    21 Swiss Francs ? That´s cheap ! I can´t even buy a pizza in Switzerland for this price ! WOW !:D
  2. Daal


    I think somebody forgot to tell these guys that the worst was over, maybe the letter got lost in the mail
  3. Suss----are pizzas in Switzerland served with swiss cheese or mozzarella? :confused:
  4. Nazz,

    Swiss cuisine is - contrary to general opinion - awful !!!!! Without "immigrant worker" cuisine, Switzerland would not have anything to offer regarding haute cuisine...One of the main reasons to let me think about leaving this country - besides other "issues"...:) :p
  5. Opening a high-quality restaurant(s) could be a good opportunity to diversify away from trading! :D