Bang & Olufsen plans share issue to cope with coronavirus crisis
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COPENHAGEN (Reuters) - TV and stereo maker Bang & Olufsen (B&O) said on Tuesday it planned to raise 400 million crowns ($58 million) via a rights issue, equivalent to half its market value, to survive the coronavirus crisis that has knocked its already weak shares.Shares in B&O, which have fallen about 66% in the past year, were down more than 9% on Tuesday at their lowest since 1994.The Danish company, known for its exclusive TVs and speakers that sell for up to $80,000, is joining other..