Volkswagen cap hike raises $5.5 bln in net proceeds

Newswire

FRANKFURT, March 25 (Reuters) - Volkswagen will raise net proceeds of about 4.1 billion euros ($5.46 billion) after issuing 64.9 million new preferred shares at a price of 65 euros each in its rights issue, the carmaker said on Thursday. In a regulatory filing sent late after the close of markets, VW said shareholders could subscribe to six new non-voting shares for every 37 they currently own, although the entire allotment was already placed on the market pending a so-called "clawback" ...

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