The Executive Board of Deutsche Lufthansa AG today, with the approval of the Company’s Supervisory Board, resolved to utilize the Authorized Capital C for a capital increase with subscription rights of the Company’s shareholders. The Company’s share capital of currently EUR 1,530,221,624.32, divided into 597,742,822 shares, will be increased by issuing 597,742,822 new no-par value shares of the Company.
The gross proceeds are expected to amount to EUR 2,140 million. The subscription price of EUR 3.58 per New Share corresponds to a discount of 39.3% on the TERP (theoretical ex-rights price). The subscription ratio is 1:1. The new shares are to be offered to the Company’s shareholders during the subscription period, which is expected to commence on September 22, 2021 and end on October 5, 2021. The rights trading is expected to commence on September 22, 2021 and end on September 30, 2021.
In effect shareholders of the company are receiving rights on a 1:1 basis, with the option to purchase new shares at 3.58EUR a share.
With the parent currently pricing around 6.19EUR, each right is worth approximately 2.61EUR each.