Independent News & Media (INM), the Irish newspaper group, is the latest firm to tap the market via a rights issue, launching a €107m ($114m) offer.

The deal is fully underwritten by Davy Stockbrokers, an Irish company. The firm will issue four new shares for every existing 15 shares held, at €0.70 per share. The issue price is a 44% discount to the closing price of €1.25 on Tuesday.

Independent News & Media to launch €107m rights issue

Yasmine Chinwala

Independent News & Media

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