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Dansk Merchant Capital A/S acted as financial advisor to Østjydsk Bank A/S in connection with a pre-emptive rights issue

» Dansk Merchant Capital A/S acted as financial advisor to Østjydsk Bank A/S in connection with a pre-emptive rights issue

Østjydsk Bank A/S (CPSE:OJBA) has successfully completed a pre-emptive rights issue with preferential rights for existing shareholders.

The rights issue resulted in gross proceeds of DKK 83.4 million and the new shares were admitted to trading and official listing on NASDAQ Copenhagen in December 2015.

Since the inspection by the Danish Financial Service Authority in 2014, Østjydsk Bank A/S had been under Banking Recovery due to an insufficient capital base. The bank had developed a recapitalisation plan of which the rights issue was a part. The bank also raised new loss-absorbing tier 1 capital of DKK 75 million. As a result of completing the recapitalisation plan, Østjydsk Bank A/S announced on 14 December 2015 that it was no longer under Banking Recovery.

Dansk Merchant Capital A/S acted as financial advisor to Østjydsk Bank A/S in connection with the structuring and completion of the rights issue, preparation of the prospectus and coordination of other advisers.