TechnipFMC has announced the sale of 9 million Technip Energies shares to raise €118.4 million ($134.3 million) through private sale transactions.
Of this, Technip Energies, a leading engineering and technology company for energy transition, has agreed to acquire 1.8 million of its own ordinary shares.
Of the remaining, Bpifrance Participations will acquire 3.6 million shares and HAL Investments, the Dutch investment subsidiary of HAL Holding, will buy 3.6 million shares.
The sale price of the shares in the sale is set at €13.15 ($15.31) per share, yielding total gross proceeds of €118.4 million ($134.3 million).
Upon completion of the sale, representing approximately 5% of Technip Energies’ issued and outstanding share capital, TechnipFMC retains a direct stake of approximately 7% of Technip Energies’ Share Capital.
The sale was conducted without a public offering in any country and settlement for the sale is expected to take place on or around January 14, 2022.
TechnipFMC is subject to a 30-day lock-up for its remaining shares in Technip Energies that expires on February 9, 2022.-- TradeArabia News Service