© grzegorz kula Business | September 06, 2013

Invesco funds invest USD 23 million in Thinfilm

Funds managed by Invesco (a blue chip investor) is acquiring 56'000'000 shares of Norwegian Thin Films Electronics.
The 56'000'000 shares in Thinfilm will be acquired at a price of NOK 2.50 per share totalling NOK 140,000,000 (USD 23 million). Following EGM approval, Invesco will hold 13.3% of the shares in the Company.

Upon subscription in the offering, Invesco will also receive 46'666'666 warrants, each with an exercise price of NOK 3.00. The warrants are exercisable after a 12-month holding period, and expire in 3 years.

The issuance of shares and warrants are subject to the approval of an extraordinary general meeting in Thinfilm.

"Having Invesco, a global blue chip investor, acquire a significant interest in the company is a reflection of our increasing international presence. It is also a recognition of the importance of our Memory Everywhere vision for the emerging Internet of Everything. Our brand protection and smart label products are expected to have an impact on broad vertical markets, such as consumer packaged goods, health care, and retail. This investment provides capital to accelerate our ambitious roadmap", said Davor Sutija, CEO of Thinfilm.

1 NOK = 0.16 USD
Load more news
December 13 2018 1:08 pm V11.10.14-2