OSLO, Nov 27 (Reuters) - The liquidator of collapsed Icelandic bank Kaupthing will offer its 5.49 pct stake in Norwegian insurer Storebrand in a book-building process, Storebrand said in a statement on Thursday.
'The Liquidator Committee has decided to offer up to 24,700,000 secondary shares in Storebrand, representing approximately 5.49 percent of the issued and outstanding shares... through a book-building process,' Storebrand said.
It said the book-building started at 1630 GMT and will close at 0730 GMT on Nov. 28 at the latest.
'The pricing will be set at or close to market,' it said.
Shares in Storebrand jumped 6.8 percent to 11.46 crowns on Thursday, outperforming a 5.3 percent rise on Oslo's main index .
(Reporting by Wojciech Moskwa) Keywords: STOREBRAND/KAUPTHING (wojciech.moskwa@reuters.com; +47 22 93 69 62; Reuters Messaging: wojciech.moskwa.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'The Liquidator Committee has decided to offer up to 24,700,000 secondary shares in Storebrand, representing approximately 5.49 percent of the issued and outstanding shares... through a book-building process,' Storebrand said.
It said the book-building started at 1630 GMT and will close at 0730 GMT on Nov. 28 at the latest.
'The pricing will be set at or close to market,' it said.
Shares in Storebrand jumped 6.8 percent to 11.46 crowns on Thursday, outperforming a 5.3 percent rise on Oslo's main index .
(Reporting by Wojciech Moskwa) Keywords: STOREBRAND/KAUPTHING (wojciech.moskwa@reuters.com; +47 22 93 69 62; Reuters Messaging: wojciech.moskwa.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2008 AFX News
