Wednesday, August 7, 2024
reading time: < 1 minute
Scandic Hotels Group AB issued convertible bonds totaling SEK 1,800 million in 2021. Recently, SEK 148.2 million of the bonds were converted into shares. This conversion reduces the nominal value of the remaining convertible bonds to SEK 519.5 million.
As a result of this conversion, Scandic’s total number of shares and votes increased by 3,417,730 shares, to a total of 207,177,418 shares. Consequently, the paid-up capital increased by SEK 854,432.50, to a new total of SEK 51,794,354.50.
This strategic move enhances Scandic’s financial flexibility and positions the company to better respond to market dynamics and capitalize on growth opportunities. By converting the bonds into shares, Scandic also strengthens its equity base, enhancing its financial stability and investor confidence. This approach is in line with Scandic’s long-term strategy of maintaining a strong balance sheet, ensuring sustainable growth, and delivering value to its shareholders.
