Kromann Reumert assists Trygheds­Gruppen in a private placement of shares in Tryg


The placing of 21,149,745 shares has been carried out through an accelerated book-build that will raise gross proceeds of approximately DKK 3.6 billion.

The placing  is made with reference to the announcement published by Regent BidCo Limited (a wholly-owned subsidiary of Intact Financial Corporation) (Intact) and Tryg A/S on 18 November 2020 in relation to Intact and Tryg’s recommended cash offer for RSA Insurance Group plc, which Tryg would finance through a rights issue (the Announcement). 

As disclosed in the Announcement, TryghedsGruppen has undertaken, among other things, to apply the net proceeds from any placing of Tryg shares following the Announcement to subscribe for new shares by way of exercise of pre-emptive rights in Tryg's rights issue.

The private placement was launched on 23 November and priced 24 November at a price of DKK 170 per Tryg share. The accelerated book-building will generate gross proceeds of approximately DKK 3.6 billion.

Danske Bank and Morgan Stanley act as Joint Global Coordinators and Joint Bookrunners in connection with the private placement.

Tryg's shares are admitted to trading and official listing on Nasdaq Copenhagen. 

Christina Bruun Geertsen and Dennis Albrechtsen have assisted TryghedsGruppen in the transaction.