German hospital operator Rhoen-Klinikum plans to raise 460 million euros ($648.9 million) in fresh capital, boosting its equity base by one third, to step up its pace of acquisitions.
Existing shareholders will be offered one new share at 13.30 euros apiece for three shares held during a subscription period from July 22-Aug. 4, the company said on Sunday.
In addition, the company said it was planning to publish first-half results on Monday. The report was initially due on Aug. 6.
Rhoen is snapping up German hospitals from municipal and other public owners who can no longer fund vital investments and the company is expecting an increasing number of targets to come to market.
Chief Executive Wolfgang Pfoehler told a German Sunday newspaper earlier this month that he was planning a 1 billion euro takeover spree, funded in equal parts by equity and debt.
The company had earlier announced it would raise about 500 million euros in a capital hike.
After the offer period to existing shareholders, unsubscribed new shares will be offered to institutional investors in a private placement.
Rhoen expects subscription rights to be traded on the Frankfurt stock exchange from July 22 through July 31, it added.
(Reporting by Ludwig Burger; Editing Bernard Orr)