Hexatronic Raises SEK 600 Million in Oversubscribed Directed Share Issue to Fund Acquisitions

Hexatronic Group AB ( (SE:HTRO) ) has issued an update.

Hexatronic Group AB has completed a directed share issue of 15,789,474 new shares at SEK 38 per share, raising gross proceeds of about SEK 600 million from Swedish and international institutional investors. Strong demand led the board to increase the issue size from the previously communicated SEK 550 million, with the price set via an accelerated bookbuilding run by Danske Bank and SEB.

The proceeds will be used primarily to support Hexatronic’s acquisition strategy in data center and harsh environment segments, including financing the recently announced purchase of Superior Fiber & Data Services, while preserving capacity for further deals. The new issue, which dilutes existing shareholders by about 7%, is seen by the board as strengthening the company’s ability to execute its growth plans, and is backed by lock-up commitments on new share issuance and insider share sales.

The most recent analyst rating on (SE:HTRO) stock is a Buy with a SEK38.00 price target. To see the full list of analyst forecasts on Hexatronic Group AB stock, see the SE:HTRO Stock Forecast page.

More about Hexatronic Group AB

Hexatronic Group AB is a Sweden-based company operating in the fiber-optic communications and connectivity sector. The group focuses on solutions for data centers and harsh environment applications, supplying infrastructure products and systems to Swedish and international markets.

Average Trading Volume: 1,743,275

Technical Sentiment Signal: Buy

Current Market Cap: SEK8.64B

For a thorough assessment of HTRO stock, go to TipRanks’ Stock Analysis page.