Osakeannin

Osakeanti, or share issue, is a corporate financing instrument in which a company issues new shares to raise capital. The goal is to strengthen the balance sheet, fund growth, or enable strategic moves such as acquisitions. An osakeanti can be structured as a rights issue, where existing shareholders are offered new shares on a pro rata basis, or as a directed/ private placement to selected investors without pre-emptive rights.

Key terms of an osakeanti include the subscription price, the period during which subscriptions are accepted, and whether the issue is underwritten. In a rights issue, pre-emptive rights usually accompany the offer and may be tradable on the market. In a directed issue, shares are allocated to specific investors, often to accelerate fundraising. The issuance is typically subject to board authorization and, where required, approval by the general meeting and compliance with securities regulations, including disclosure obligations.

Regulatory context varies by jurisdiction but generally falls under corporate law and securities regulation. Public offerings may require a prospectus and adherence to market rules, while private placements are often subject to exemptions. In many markets, oversight bodies ensure investor protection and accurate information.

Effects and considerations: for the company, an osakeanti can improve capital structure and liquidity but causes dilution for existing shareholders who do not participate. For investors, it may present an opportunity to maintain or grow ownership at a discount, balanced against regulatory risk and market conditions. Underwriters and advisors typically play a role in pricing, structuring, and ensuring compliance.

Example: a company announces an osakeanti to raise 4 million euros by issuing 2 million new shares at 2 euros each, with a four-week subscription period. Existing shareholders may subscribe to avoid dilution.