Atlético To Launch Three-Phase Capital Increase That Could Net Up To $14.2M
Atlético Madrid will on Friday open the first phase of a capital increase, according to the EFE. The club is looking to sell 484,059 shares, which "each have a nominal value" of €8.50 ($12) plus a €13 ($18) share premium, making each share worth €21.5 ($29). The sale of all the shares could net Atlético up to €10.4M ($14.2M). The process will be divided into three phases. The first phase, scheduled to start Friday, will be open to current shareholders. If any shares remain, "a second phase will open up for shareholders" affected by a capital increase held in '03 that was canceled by a court ruling in '11 which was recently upheld. The third phase, "which will take place if further shares remain, will be open to both current shareholders and those affected by the canceled capital increase" in '03 (EFE, 7/3).