French listed property firm Altarea Cogedim has raised €210 mln in a capital increase to help fund its development programme.
Demand for the issue of 1.5 million shares at a price of €140 a share reached 1.3 times the amount being placed, the company said.
The company has raised €369 mln of new capital since the beginning of the year.
'The success of the capital increase testifies to the support of our shareholders for the growth strategy of Altarea Cogedim,' said Alain Taravella, founding CEO of Altarea Cogedim. 'Our balanced business model, creating long term value, allows us to reiterate our objective of group share FFO increasing by 15% to 20% in 2016, as well as dividend distribution of at least €11 for the next two years.'
