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ADPPF - ADO Properties: Massive Dilution Via Rights Issue
Ado Properties SA
For more background, please read my first article on ADO properties (ADPPF). At the time, the specifics of the rights issue with tradable subscription rights were unknown. It was expected for Q2 or Q3. With the subscription and trading period having started on Monday, 6 July, it makes sense to explain the mechanics of the rights issue for readers.
Exercising the call on Consus
Following the exercise of the call option on July 2, the call has settled. ADO issued 1,946,093 new shares and transferred 14,692,889 existing shares previously held by ADLER