StockMarketWire.com - Packaging company Smurfit Kappa has raised €660 million through a share issue, it announced this morning.

The company listed 19.4 million new shares, selling them at €34.00 each or £30.46 for investors who elected to settle in sterling.

The new shares represent approximately 8.1% of the company's issued share capital immediately prior to the placing.

CEO Tony Smurfit said yesterday that the proceeds would be used to enable the company to accelerate investment over the next three years and improve financial flexibility.

The shares are due to begin trading on 24 November 2020.

At 8:19am: [LON:SKG] Smurfit Kappa Group PLC share price was 0p at 3236p



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