Delta Lloyd shareholders approve $722 million rights issue

Shareholders of Delta Lloyd N.V. have approved the Dutch insurer's €650 million ($722 million) rights issue to raise capital to satisfy Solvency II requirements at an extraordinary meeting, reported Reuters.

The vote was carried after investors representing 77% of the shares agreed to the rights issue. Taiwan-based Fubon Financial Holding Co. Ltd., which was initially opposing the plan, has now supported the rights issue. Under the deal, Fubon will boost its stake from 7% to about 20% by purchasing shares on the open market.

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