Finnish property company Sponda said on Monday that its board of directors has approved the launch of a rights issue to raise up to EUR 208 mln. The company will issue a maximum of 166 million new shares at a price of EUR 1.25 per share. Sponda's existing shareholders will have a pre-emptive right to subscribe to the new shares in proportion to their holding in the company. Sponda intends to use the proceeds to repay a portion of its debt.
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