Electrolux sets price for 9.1 billion crown rights issue
Electrolux priced its 9.1 billion crown rights issue at 16.75 crowns per share to fund restructuring. The move follows a quarterly loss and 3,000 planned job cuts.
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ELECTROLUX AB-A set a subscription price of 16.75 crowns per share for its 9.1 billion crown ($975.96 million) rights issue on Thursday evening. The appliance maker is raising capital to fund restructuring and a partnership with Midea, a Chinese rival. Investors face dilution as the firm battles a 266 million crown operating loss and 3,000 job cuts.
