TomTom Shareholders Approve Rights Issue, Stock at 8 Month High
A few weeks ago TomTom announced plans to raise funds via two different routes: a private placement and a rights issue. The former occurred earlier this month. Today shareholder approved the rights issue, with shares priced at 4.21 euros. That bumped the stock up 7% to an 8 month high of 8.74 euros this morning (EDT).
Analysts now report there’s no danger of bankruptcy.
- Reuters
