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Deceuninck has 93.2 pct take-up of rights offering

October 09/2009
BRUSSELS (Reuters) -- Belgian PVC window frame maker Deceuninck said on Thursday that it had received subscriptions representing 93.19 percent for its 4-for-1 rights offer priced at 0.98 euros.

The company launched an 84.5 million euro ($124.9 million) rights issue to repay 41.3 million euros in debt, fund its restructuring and finance working capital. The company said major shareholders Sofina NV, Desco SAK and Defiac NV had exercised their rights and subscribed to new shares for a total 33.42 million euros.

Deceuninck said ING, KBC Securities, BNP Paribas Fortis and Dexia had underwritten the rights issue.





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