Electrolux announced Thursday it set a subscription price of 16.75 Swedish crowns per share for its rights issue, aiming to raise 9.1 billion crowns ($976 million).
The appliance maker said the rights issue will generate gross proceeds of 9,062 million Swedish crowns. The price applies to both Class A and Class B shares.
Proceeds will support restructuring efforts. Electrolux is shifting focus to premium product categories to improve profitability amid weak demand and competition from lower-priced rivals.
The rights issue is fully underwritten.
