By Mauro Orru

Compagnie Financiere Richemont SA said Wednesday that it would issue warrants to shareholders after receiving approval for a conditional capital increase.

The Swiss luxury conglomerate said shareholders at an extraordinary general meeting backed plans to issue up to 22 million new A shares, which can be bought in exchange for warrants.

Richemont will distribute warrants on Nov. 27, with a set price of 67 Swiss francs ($73.50) to buy one A share.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

November 18, 2020 02:07 ET (07:07 GMT)

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