Incap Corporation Inside information 16 October 2020 at 2.05 p.m. (EEST)
Incap is preparing a rights issue of EUR 10.9 million, as estimated
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Incap Corporation (the “Company”) is preparing a rights issue with a total amount of EUR 10.9 million, as estimated. UB Securities Oy would act as the lead manager of the rights issue.
“Incap has grown strongly and profitably in recent years, and our growth is supported by increased utilization of electronics and global outsourcing trends. The background of our strong performance is our unique entrepreneurial culture and efficient operating model.
Following the acquisition of AWS Electronics Group in January this year, we estimate that our revenue for 2020 will be significantly higher than in 2019 and our operating profit (EBIT) is estimated to be approximately on the same level as in 2019. Despite the impact of the COVID-19 pandemic, the overall demand for our services has continued on a good level.
Our industry is very fragmented, and we see plenty of opportunities for growth and consolidation in the future as well. We want to be an active player and accelerate the consolidation of our industry while maintaining our cost efficiency and long-term profitability. With the proposed rights issue, we are preparing ourselves for consolidation and international growth,” says Otto Pukk, President and CEO of Incap Group.
In the rights issue, each shareholder in the Company would receive one subscription right for each three shares held in the Company, and each subscription right would entitle the holder to subscribe for one new share for a subscription price of EUR 7.50.
The purpose of the contemplated rights issue would be to strengthen the Company's capital structure, balance sheet and financial position and thus create conditions for the Company to grow and develop its business in accordance with its strategy. The proceeds to be raised in the rights issue could be used to repay the Company’s loans, possible future acquisitions and general corporate purposes.
The detailed terms and conditions of the rights issue will be published after the Extraordinary General Meeting, to be held on 23 October 2020, if it decides on the share issue authorisation in accordance with the Board of Directors’ proposal and the Board of Directors decides to use the authorisation.
INCAP CORPORATION
For additional information, please contact:
Otto Pukk, President and CEO, tel. +372 508 0798
Distribution:
Nasdaq Helsinki Ltd.
Principal media
INCAP IN BRIEF
Incap Corporation is a trusted partner and full service provider in Electronics Manufacturing Services. As a global EMS company Incap supports customers ranging from large multinationals and mid-sized companies to small start-ups in their complete manufacturing value chain. Incap offers state-of-the-art technology backed up by an entrepreneurial culture and highly qualified personnel. The company has operations in Finland, Estonia, India, Slovakia, the UK and Hong Kong and employs approximately 1,300 people. Incap’s share has been listed on Nasdaq Helsinki Ltd stock exchange since 1997.
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