Prysmian S.p.A. completed an €850 million capital increase through an accelerated bookbuilding process for institutional investors. The company issued 7.0 million new shares at a price of €121.00 per share. These new shares represent approximately 2.4% of the company's pre-increase share capital. Investor demand for the offering exceeded the available shares multiple times.
Prysmian will use the net proceeds to partially fund the acquisition of U.S.-based Atkore Inc. The Atkore acquisition, announced in August, carries an enterprise value of approximately $3.8 billion. Management structured the deal using a mix of debt and equity to preserve the company's investment-grade credit profile.