Pernod Ricard has seen strong demand for new shares issued to raise the French drinks giant's share capital.

The value of the share capital increase will be EUR8m (US$12m) via the issue of more than 5m new shares, Pernod Ricard said today (16 November). The figures are marginally above what the company had originally planned.

Shareholders had until 11 November to subscribe to take advantage of an offer to subscribe to the new shares, granted free of charge. The new shares, which will be allocated from 18 November, will give right to cash dividends decided or paid on or after their date of issue.

As a result, Pernod's share capital will rise to EUR409m on just under 263.9m shares.

Earlier this month, Pernod shareholders approved a cash dividend payment of EUR0.5 (US$0.74) per share for the French wine and spirit group's most recent fiscal year.

At the same time, Pernod said that it expects like-for-like operating profits to rise by between 1% and 3% for its full-year, to the end of June 2010.