SES will issue 39,857,600 million new Fiduciary Depositary Receipts (FDRs) at a price of €19. The number of new FDRs represents 11.6% of the existing number of the company’s total Class A shares.
SES will use the proceeds raised to fund the total consideration of USD 730 million to increase its ownership of O3b to 100%. The transaction is subject to regulatory approvals which are expected to be completed during H2 2016. SES will also use around US$300 million to repay O3b’s most expensive debt facilities, leading to a reduction in annual financing costs after initially covering any repayment charges.
O3b operates a fleet of medium Earth orbit satellites, with 12 currently in orbit and further satellites in the pipeline. The O3b constellation is designed to deliver broadband connectivity in the Ka-band.
German smart TV sales up 14% says @gfk digitaltveurope.com/2020/10/23/ger…
23 October 2020 @ 09:29:38 UTC