L M Ericsson Telephone AB filed with the US Securities & Exchange Commission for a transferable rights issue to buy up to $293.5m of convertible subordinated debentures due June 30 2000. The offer is being made to US holders of the A and B shares and of American Depositary shares representing the B shares. Holders will be offered the right to buy American Depositary Debentures of 10 Swedish kronor principal amount for each share held. The exercise price is 100% of the value of the debentures bought, payable in Swedish kronor or in dollars by arrangement with Citibank Citicorp. The company is also making the rights offering available to holders of American Depositary Shares.
