Michelin CGDEB (EU:ML)
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By Max Bernhard
Compagnie Generale des Etablissements Michelin (ML.FR) said Monday that it will launch a capital increase as part of a new employee share-ownership plan.
The French automotive supplier will increase its capital up to a maximum of 600,000 shares at a subscription price at EUR82.31 ($95.66), translating to an increase of about EUR49.4 million.
The subscription price is equal to 80% the reference price, Michelin said.
Michelin shares closed at EUR103.10 on Friday.
Write to Max Bernhard at email@example.com; @mxbernhard
(END) Dow Jones Newswires
September 17, 2018 10:36 ET (14:36 GMT)
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