Intervest Offices & Warehouses: Capital increase for a maximum amount of € 99.854.767,50 for funding the growth strategy
14 Novembre 2018 - 7:30AM
Intervest Offices & Warehouses: Capital increase for a maximum
amount of € 99.854.767,50 for funding the growth strategy
Total already announced investment pipeline of circa € 125
million
Public offer to subscribe to a maximum of 5.397.555 new shares
within the framework of a capital increase in cash within the
authorised capital with irreducible allocation right for a maximum
amount of € 99.854.767,50.
Request for admission to trade the new shares on the regulated
market of Euronext Brussels.
- Intervest Offices & Warehouses announces a capital increase
to continue its growth strategy, both in the office portfolio and
in logistics real estate, while maintaining the debt ratio between
45% and 50%.
- Capital increase for a maximum amount of € 99.854.767,50.
- Announced investments with regard to logistics site Seaport
Ghent (BE), logistics project Roosendaal (NL), demolition,
sanitation and infrastructure works zone B of the former Ford site
in Genk (BE), logistics development Gold Forum nearby Eindhoven
airport (NL), logistics site Roosendaal (NL) and office complex in
Leuven (BE), for a total of circa € 125 million. With these
transactions, Intervest Offices & Warehouses’ goal to grow its
real estate portfolio to € 800 million by end 2018 will be
realized.
- 21,68% of the capital increase is pre-committed by the
reference shareholders FPIM/SFPI (including Belfius group), Allianz
Benelux nv and Patronale Group nv.
- Subscription price: € 18,50 per new share, representing a
discount of 15% compared to the closing share price on 13 November
2018 of € 23,05, adjusted by the estimated value of coupon no. 21
to be detached on 14 November 2018 (after market close), i.e. €
1,28.
- Intervest Offices & Warehouses confirms that for the 2018
financial year, the EPRA earnings per share will remain at least
stable compared to 2017 (€ 1,58 per share) and, subject to the
results and the approval by the Ordinary General Meeting of the
dividend relating to the 2018 financial year, that the dividend
will remain at least at the same level as last year (€ 1,40 per
share).
- 7 irreducible allocation rights give the right to subscribe to
2 new shares.
- Detachment of coupon no. 20 representing the irreducible
allocation right: 14 November 2018 after market close.
- Detachment of coupon no. 21 representing the right to the pro
rata temporis dividend for the current 2018 financial year to 29
November 2018, which will not accrue to the new shares: 14 November
2018 after market close.
- Subscription Period: from 15 November 2018 through 26 November
2018.
- The irreducible allocation rights are negotiable throughout the
entire subscription period.
- Placement of the scrips will in principle take place on 28
November 2018.
- Bank Degroof Petercam acts as the Global Coordinator and as
Joint Bookrunners together with Belfius Bank, ING Belgium and KBC
Securities.
Full press release:
- Capital increase November 2018
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