Novabase capital raise begins today

 In Capital raise, Companies, News, Technology

Portugal’s Novabase Group is preparing a capital raise to pay shareholders with new shares.

According to business daily Negócios, the operation starts today with current investors able to get the new shares from financial institutions (issued at a nominal value of three cents each). In case the interest exceeds the amount foreseen for the dividends, the remainder will be used to capitalise the company.

The goal is to use the amount raised to pay out all or part of the dividend stipulated, in other words €1.79 gross per share.

It is a flexible payout whereby investors may choose between a total dividend payout or partial dividend in kind.

A capital raise is when a company approaches existing and potential investors to ask for additional capital (money) in the form of either equity or debt, in the form of shares in the former and bonds in the latter.

“The capital raise approved by shareholders to be undertaken by the issue of new shares has as its maximum value the total sum of the gross dividend to be distributed to shareholders, or €47,484,470,23”, explains Novabase in a communiqué to the Portuguese securities market supervisor CMVM.

All told, around 11.5 million new ordinary shares will be issued with no negotiable preference rights, but each shareholder will have subscription rights to the new shares subordinated to a ratio in which each right is worth 0,435216028 new shares. In other words, for each 100 shares currently held by the investor, the investor may get 43.5 new shares.

The liquidation of the new shares will be done on 24 June, with admission for trading from 27 June.

Listed on Euronext Lisbon and with offices in Europe and the Middle East, Novabase has over 1,800 talented specialists.

Celfocus is the flagship company of Novabase Group, with annual revenues totalling nearly €133 million in 2023.

Celfocus is a European high-tech system integrator providing professional services focused on the analytics & cognitive domains. Celfocus helps clients undergo their business evolution, providing technological solutions to extract value from data through digital transformation. Services include Automation and Intelligent Assurance in Autonomous Networks, B2B2X Business Services, Data Monetisation, and Hyper-Personalisation customer experiences.