Talvivaara Mining (OMXH: TLV1V, LON: TALV) announced at almost midnight that its 261 million Euro rights offering was oversubscribed. The great majority of those came from subscription rights use whilst just under 3% comes from over subscribing. The company didn’t go into spesifics yet, simply stating that taking oversubscriptions into account, the rights issue was significantly oversubscribed at the end of the subscription period.
The company said earlier on in the day, that it had managed to stop the most recent leakage. The company however considers the most recent happenings as new material information. This led to an announcement, where it was detailed that the The Finnish Financial Supervisory Authority FIVA has agreed to an supplement in the prospectus and thusly the details concerning the leakage were laid out in as supplementary information. Finally the company also said that due to this, the investors have a couple day window to cancel their subscription should they so desire.
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