KEY TERMS OF THE TRANSACTION
- Subscription ratio: 2 new shares for 13 existing shares
- Subscription price: 6.35 euros per new share
- Theoretical value of the preferential subscription right: 0.34 euros
- Trading period of the preferential subscription rights: from 21 March to 30 March 2022 inclusive
- Subscription period: from 23 March to 1 April 2022 inclusive
- Rights issue results: 5 April 2022
- Settlement-delivery and listing of the new shares on Euronext Paris: 7 April 2022
- Subscription commitment: subscription of the French State proportional to its 83.88% stake in EDF share capital, representing a subscription commitment of approximately 2.7 billion euros
Paris, France, 18 March 2022 – EDF (the “Company”) announces today the launch of a share capital increase with preferential subscription rights (the “Rights”) to existing shareholders, for a gross amount of more than 3.1 billion euros (the “Rights Issue”).
The net proceeds from the Rights Issue will primarily be used:
- to finance the Group’s development operations during the period between 2022 and 2024, in line with the CAP 2030 strategy;
- to strengthen the Group's credit rating and its access to financing markets; and
- more generally, to strengthen the Group’s financial flexibility.
The Rights Issue is part of a broader action plan aimed at strengthening the balance sheet structure.
NB: The entire press release is available in the PDF