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Beno Holding: IPO and bond in preparation

Beno Holding is about to go public. The company plans to be listed on the Bavarian Stock Exchange in Munich in the third quarter. It is unclear whether new shares will also be issued. There has already been a capital increase recently. Almost 3 million new shares were created. There are now 3.088 million shares in Starnberg.

In 2019 the company had a turnover of 6.63 million euros. In the previous year, 6.41 million euros were earned. The EBIT increases by 44 percent to 4.48 million euros. The profit increases from 0.98 million euros to 2.2 million euros. That is an increase of 125 percent. The real estate held as financial assets has a value of 58.6 million euros (previous year: 52.0 million euros.

After the listing, Beno also wants to issue a new bond. This should happen in the fourth quarter of 2020. The upcoming bond should have a volume of up to 30 million euros. There is still no information on the interest rate and the term. Investors in a bond issued in 2014 that runs until April 2021 should be able to exchange them. The old bond has a volume of 10 million euros and has an annual interest rate of 5.0 percent.

Beno focuses on the asset class “light industrial real estate”. You buy, finance, manage and optimize real estate properties with tenants with good credit ratings. The holding company is currently represented at 11 locations. The annual net rental volume is 5.4 million euros. There are around 40 tenants and the rented building area is 142,000 square meters.

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