Reuters: Hot Stocks: Talvivaara raises 261 mln euros in rights issue despite new leak

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Talvivaara raises 261 mln euros in rights issue despite new leak Apr 15th 2013, 12:42 HELSINKI, April 15 | Mon Apr 15, 2013 8:42am EDT HELSINKI, April 15 (Reuters) - Finnish mining company Talvivaara said it succeeded in raising 261 million euros ($341.85 million) in a rights issue to keep its mine running, securing a chance to recover from its costly waste water leaks. There was some concern that some investors could back out of the rights issue after a new leak was discovered a week ago, but Talvivaara said on Monday that the rights issue was oversubscribed and banks' underwriting was not used. Finland's state investment firm Solidium said it was now the largest owner of Talvivaara with a 16.7 percent stake. ($1 = 0.7635 euros) (Reporting by Terhi Kinnunen; Editing by Ritsuko Ando)

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