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Sydbank says to issue shares, meet forecasts

Source: Reuters - Tue 15th Sep 2009

Denmark's third largest bank, Sydbank, said on Tuesday it would offer up to6.75 million new shares in a private placement and was confident it would meet earlier announced forecasts for 2009.

Gross proceeds would amount to about 926 million Danish crowns ($182 million), it said.

The bank said the issue would give Sydbank capital strength to participate in expected consolidation of the Danish banking industry, and it remained confident with the outlook for 2009,as described in the bank's announcement of results for the period ended 30 June 2009. ($1 = 5.086 Danish crowns)

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