Uniqa Raises $1 Billion in Share Sale Diluting Holders

Uniqa Insurance Group AG, Austria’s second-biggest insurer, sold 757 million euros ($1 billion) of new shares to fuel growth in eastern Europe and open itself to a broader group of investors.

Uniqa sold 94.8 million new shares, equivalent to 44 percent of the existing stock before the deal, for 8 euros apiece to institutional and retail investors, the Vienna-based company said in a statement today. The number of shares that are freely traded will rise to 35 percent from 6.9 percent as its core shareholders did not participate in the rights offering.