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Wednesday, 24.04.2024, 17:02
Estonia: Magnetic MRO to raise up to EUR 8.95 mln additional capital
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The total share capital of Magnetic MRO AS will be
increased from 1.09 mln euros to 1.28 mln euros by way of issuing up to 30,158
new shares with the nominal value of 6.4 euros apiece for the aggregate issue
price of up to 8.95 mln euros, the company said.
"Magnetic MRO has in total 11 different business
units. Some of them are more focused on profitability and others are more
driven towards fast growth. A significant part of the above equity injection
will be allocated into fueling organic growth in our growing business
units," said Risto Maeots, CEO of Magnetic MRO.
According to the agreements, Shenzhen Yongtai Trading
Co., Limited, a limited liability company registered under the laws of the
People's Republic of China, is authorized to subscribe for up to 26,957 new shares
of Magnetic MRO it a shareholding of up to 13.44% in Magnetic MRO
for the total issue price of up to eight mln euros and Sapphire Investment
Holding Limited, a limited liability company registered under the laws of Hong
Kong, is authorized to subscribe for up to 3,201 new shares of Magnetic MRO
granting it a shareholding of up to 1.60 % in Magnetic MRO for the total issue
price of up to 950,000 euros.
The investors may subscribe for the new shares within a
one-year period in multiple tranches. The subscription of new shares by Shenzhen
Yongtai Trading Co., Limited is subject to certain regulatory approvals of
China.
After the subscription of the new shares in full, the size
of the registered share capital of Magnetic MRO will be 1,283,200 euros and the
total number of shares of Magnetic MRO will be 200,500. The shareholding
of Hangxin Aviation Services Co., Limited, the existing sole
shareholder, may decrease as a result of the issue of new shares from 100% to
84.96%.
Shenzhen Yongtai Trading Co., Limited is a
company registered in China. Its business includes trade, export and
import, aircraft and components sales and services, and investment.
Sapphire Investment Holding Limited is an investment
holding company registered in Hong Kong.
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