(Alliance News) - Circle Spa announced Tuesday that it has successfully concluded the underwriting of a further tranche, through an "accelerated bookbuilding" procedure, of its capital increase, excluding pre-emptive rights.

After the launch and closing of a first "accelerated bookbuilding" concluded on June 27, in the second the reserved capital increase was subscribed for an additional total of 55,770 new ordinary shares, with no indication of par value and with the same characteristics as those currently outstanding, corresponding to about 1.21 percent of the new share capital, for a total value of EUR395,967.00.

The new 55,770 ordinary shares from the reserved capital increase were subscribed by a leading international institutional investor.

The newly issued shares were placed at a price per share of EUR7.10, at a premium to the weighted average (VWAP) market value of the shares in the 180 trading days prior to the date of execution of the aucap.

Circle closed Monday's session in the red by 1.0 percent at EUR7.76 per share.

By Maurizio Carta, Alliance News reporter

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