Volkswagen likely to launch its planned rights issue next month
By Andrew C., 30 Aug, 2010. 0 Comments
2010 Vw Golf R
It's likely that by next month, we will see Volkswagen AG launch its planned rights issue in an attempt to help finance acquisitions it has made or has plans for, a VW supervisory board member said. In an interview with Reuters, Jorge Bode said that he thinks March is the right time for a capital hike. Bode, who is also the economy minister of the German state Lower Saxony, VW's second-biggest shareholder, said that markets are currently receptive. Last Wednesday, VW announced that it might not issue the full amount of new preference stock allowed by shareholders. Last December, shareholders had agreed to let Volkswagen issue up to 135 million non-voting shares by December 2014. This move fueled talk that VW was preparing for a buying binge. [via wardsauto - sub. required]
Gallery: 2010 Vw Golf R
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