OMV, the Austrian-based oil and chemical company, is set to raise around ?1 billion ($1.34 billion) through a share capital increase and convertible bond issuance to fund its acquisition of Petrom, Romania’s state-owned petrol company. Up to three million shares will be issued with existing shareholders being granted pre-emptive rights to purchase one new share for every nine OMV shares held. In addition, OMV will issue up to two million bonds to the tune of ?550 million, each bond being convertible into one share of OMV’s stock with a maturity of four years and a minimum coupon of 0%.
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