Aryzta is to embark on a share placing in order to broaden its shareholder base and strengthen its balance sheet. The Zurich-headquartered bakery company announced plans yesterday to offer up to 4.25 million new shares with a nominal value of Swiss Fr 0.02 each in a placing to a limited number of institutional investors.

The number and price of the new shares will be announced today, once the book-building process has been completed.

The new shares will be issued out of Aryzta’s authorised share capital and will represent less than 5 per cent of its registered share capital before the increase.

The holders of the new shares will be entitled to receive the dividend for the financial year 2011, which is scheduled to be paid on February 1st.

The share issuance will have no material impact on Aryzta’s expected performance. “The underlying earnings per share guidance of euro 338 cent for the financial year ending 31 July 2012 remains valid,” the company said.