Converium completes $420m capital raising
Converium has reached agreement with a syndicate of banks on underwriting a capital increase of CHF 533 million (approximately $420 million), subject to conditions. Credit Suisse First Boston and JP Morgan are leading the underwriting. The capital increase was originally announced on August 31, 2004 as part of recent organisational changes following losses in its US casualty business for the years 1997-2001.
An Extraordinary General Meeting will be held on September 28, 2004 for the shareholders to approve the proposed capital increase. The banks will underwrite the new shares at a minimum issue price ofOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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