Munich Re Ups Share Offering Price

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By Lisa S. Howard, International Editor

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NU Online News Service, Oct. 24, 10:48 a.m.EDT, London?Munich Re has increased the subscription price for itsplanned share offering from 75 euros ($88.40) per share to 78 euros($91.90) per share.

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As a result, the company expects to raise nearly 4 billion euros($4.7 billion) in equity, up from an original projection of 3.8billion euros ($4.5 billion) in equity.

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Munich Re attributed the new subscription price to "the positivereception which the intended issue [of shares] has met frominvestors and the favorable performance of Munich Re's shareprice?."

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The subscription period for the new Munich Re shares willprobably begin on Wednesday and end on Nov. 10, the companysaid.

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