Diamyd proposes rights issue

Diamyd Medical AB (SSE:DIAM B) proposed to raise SEK219.2 million ($31.1 million) in a rights issue of 3.1 million shares at SEK70. The price is a 50% discount to Diamyd's close of SEK139.25 on Monday, the day before the offering was announced. Shareholders will be able to purchase seven new shares for every 25 held. The board will seek shareholder approval at an Oct. 7 meeting. ...