STOCKHOLM, Sweden-Sweden’s First AP Fund said it would subscribe to L.M. Ericsson’s $3.14 billion one-for-one rights issue, commenced Aug. 15. First AP Fund owns 1.3 percent of Ericsson’s shares.
Previously both Nordea Fund, with 2.54 percent of the capital, and SEB Funds, with 1 percent of Ericsson’s shares, said they were subscribing.
Ericsson hopes to raise $3.2 billion from the rights issue to pay off debt and finance restructuring.
