Jyske Bank A/S (OMX: JYSK) said after market close on Wednesday that it is issuing up to 6,479,999 new shares (9.99% of share capital) at market price through accelerated book-building process for institutional investors. Based on the closing price on Wednesday, this would net the bank approximately 1.3 billion DKK. Existing shareholders have no pre-emptive rights.
Annual earnings for 2011 were released around a month ago. Pre-tax profit for 2011 was 601 million, which was adversely affected by special one-off items up to almost 500 million. Solvency ratio at the end of the year was 14.7% with Core Tier 1 capital ratio excluding hybrid core capital at 12.1 %. Jyske Bank still forecasts further consolidation in the Danish banking sector.
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