Listed Italian property company Aedes has raised around EUR 150 mln through the capital increase to boost its balance sheet. The firm placed 577 million shares at a price of EUR 0.26 per share.
Listed Italian property company Aedes has raised around EUR 150 mln through the capital increase to boost its balance sheet. The firm placed 577 million shares at a price of EUR 0.26 per share.
The capital increase brought Aedes a new shareholder, Vi-Ba Srl. Following the operation, Aedes has a capital position of EUR 177 mln.
The Milan-based firm also said it is launching a procedure to convert around EUR 296 mln of bank debt into shares. The operation, which will be completed in the coming weeks, will see a number of property lenders take control of the Italian group.
Aedes further announced the appointment of Francesco Montescani as the new CEO, while Paolo Ingrassia and Annapaolo Negri-Clementi are to take the position of new vice-presidents. The appointments follow the resignation of former CEO Nicola Cinelli recently.
