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Kromann Reumert assists Trygheds­Gruppen in an accelerated book-build offering of 53,018,264 new shares to be issued as part of Tryg's rights issue announced on 1 March 2021

The offering was made with reference to the announcement published by Tryg A/S (Tryg) on 1 March 2021 of a DKK 37,013 million fully underwritten rights issue in connection with Intact Financial Corporation and Tryg’s recommended cash offer for RSA Insurance Group plc announced on 18 November 2020.

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In the offering Danske Bank and Morgan Stanley have agreed to acquire 318,109,584 preemptive rights issued by Tryg for a total price of DKK 1,485 million from TryghedsGruppen smba (TryghedsGruppen) and to sell 53,018,264 new Tryg shares resulting from the exercise of such preemptive rights at a price of DKK 133 per share pursuant to an accelerated bookbuild offering. The offering was launched on 3 March and priced 4 March 2021. 

Following completion of the offering or shortly thereafter

  • TryghedsGruppen will have completed a cash subscription in Tryg's rights issue of DKK 12.6 billion as well as the cash neutral exercise of all its remaining preemptive rights; and
  • the proceeds from the offering, less transaction costs, will have been contributed to subscribe for shares issued by Tryg as part of the rights issue.

Consequently, expectedly 53% of the rights issue, or DKK 19.6 billion, will have been subscribed for following completion of the offering (or shortly thereafter).

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

Christina Bruun Geertsen has assisted TryghedsGruppen in the transaction.

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Christina Bruun Geertsen
Managing Partner (Copenhagen)
Dir. +45 38 77 43 26
Mob. +45 20 10 63 69