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REC Silicon ASA ( (RNWEF) ) just unveiled an announcement.
REC Silicon ASA has detailed updated key terms for its fully underwritten rights issue, aiming to raise NOK 972.6 million through the issuance of up to 4,078,000,000 new shares at a subscription price of NOK 0.2385. Existing shareholders will receive approximately 9.695 subscription rights per share, with a 1:1 subscription ratio, and the company plans to list these rights on Euronext Oslo Børs, subject to approval by an extraordinary general meeting and the publication of a regulator-approved prospectus.
The capital increase is designed to strengthen REC Silicon’s financial position, offering current investors the opportunity to maintain their ownership stakes at a discounted price while the underwriting structure enhances execution certainty. By proceeding with a sizable rights issue managed by Arctic Securities, REC Silicon signals a commitment to funding its strategic priorities in the solar and electronics materials markets, potentially reinforcing its competitive position amid ongoing industry investment needs.
More about REC Silicon ASA
REC Silicon ASA is a Norway-based producer of advanced silicon materials, specializing in high-purity silicon gases for the global solar and electronics industries. Listed on the Oslo Stock Exchange under the ticker RECSI and headquartered in Lysaker, the company leverages over four decades of experience and proprietary technology to serve downstream manufacturers worldwide.
Average Trading Volume: 824,985
Current Market Cap: NOK156M
Learn more about RNWEF stock on TipRanks’ Stock Analysis page.