By Ian Walker

 

Centralnic Group PLC said Monday that it is buying German online marketing business VGL Verlagsgesellschaft mbH for an initial sum of 67 million Euros ($75.5 million), which will be part funded via a share placing and open offer.

The global internet-platform company said that it is raising up to 42 million pounds ($56.3 million) via a placing of up to 35 million new ordinary shares at 120 pence each, a 10% discount to its closing price of 133.50 pence on Friday. The placing will be conducted via a bookbuild program.

The company is also offering shareholders the chance to buy the discounted shares via an open offer of up to 2.5 million shares on the basis of one new share for every 100.46403360 held.

Centralnic said that it also plans to raise EUR21 million via the issue of senior secured callable bonds, which will also be used towards the acquisition with the rest of the money coming from existing cash reserves.

Zeus Capital Ltd. and Joh. Berenberg, Gossler & Co. KG are acting as joint bookrunners to the placing.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

February 28, 2022 02:49 ET (07:49 GMT)

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