Carlsberg probably set for €443m cash boost

Danish brewing giant Carlsberg could be set for a DKr3.3bn (€443m) cash injection if a secondary rights issue goes to plan.

More than 15 million new shares will be issued after Carlsberg bought out Norwegian partner Orkla last month and German brewer Holsten-Braueri in January.

Existing shareholders will have first refusal on the new issue which will be priced at Dkr225 (€30.22) each, while existing class-A and class-B shares will be entitled to buy one new share for each four existing shares.

The subscription period runs from April 2 until April 20, and if fully subscribed, will increase the number of Carlsberg shares to 76.2m from 63.9m.

Carlsberg's shares slipped 1.4% to DKr290 (€39) in early trading on the Copenhagen stock exchange.