Immofinanz places shares and convertible bonds totaling EUR 356 million

The Austrian real estate group Immofinanz announces the completion of the capital measures announced yesterday. With the exclusion of shareholders’ subscription rights, almost 15.42 million unit certificates – of which almost 11.21 million as part of a capital increase – were placed with institutional investors at a price of EUR 15.31 each. Immofinanz estimates the proceeds from the placement as gross at EUR 236 million.

“The shares are entitled to dividends from the beginning of the 2019 financial year and will probably be delivered on or around July 13, 2020 after the capital increase has been entered in the commercial register. The new shares from the capital increase will be admitted to trading on the Vienna Stock Exchange and subsequently on the Warsaw Stock Exchange on or around July 13, 2020 under the existing ISIN AT0000A21KS2, ”announced Immofinanz.

The real estate group received another 120 million euros from the placement of a mandatory convertible bond. The bond can be converted into almost 7 million Immofinanz shares at an initial conversion price of EUR 17.1472 and will bear interest at 4 percent during the term. “The mandatory convertible bond will be converted into new or existing ordinary shares of the company at maturity, unless it is converted beforehand at the request of the bondholder or the company or upon the occurrence of certain special events in accordance with the conditions of the mandatory convertible bond,” said Immofinanz.

At a glance – chart and news: Immofinanz

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