Italian Energy Co. Saipem Announces €2B Rights Issue

By Najiyya Budaly (June 22, 2022, 2:28 PM BST) -- Saipem SpA said Wednesday that it has launched a €2 billion ($2.1 billion) rights issue, aimed at strengthening the Italian oilfield services company's capital structure and helping it to acquire more offshore businesses.

The company, which sits on the Euronext Milan stock exchange, said it will offer almost 2 billion new shares to shareholders at an issue price of €1.013 each.

The shares will be offered on a preemptive basis to ordinary and savings shareholders at a ratio of 95 new shares to an existing one held. The shares will have the same entitlements and characteristics as existing ordinary shares....

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