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Tuesday, June 30. 2009
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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
Posted by Adena Schutzberg
in Geospatial Business
at
09:15
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