BNP Paribas bank has fully exercised the over-allotment option arising from the IPO of French property company Klemurs last week, resulting in the purchase of 73.125 existing shares sold by Klemurs' parent, Klepierre. The total number of Klemurs shares offered stands at 560,625 and increases the value of the offering to EUR 11.2 mln. Klepierre, a leading manager of shopping centres in continental Europe, now holds 84.1% of Klemurs' equity.
BNP Paribas bank has fully exercised the over-allotment option arising from the IPO of French property company Klemurs last week, resulting in the purchase of 73.125 existing shares sold by Klemurs' parent, Klepierre. The total number of Klemurs shares offered stands at 560,625 and increases the value of the offering to EUR 11.2 mln. Klepierre, a leading manager of shopping centres in continental Europe, now holds 84.1% of Klemurs' equity.
Klemurs said that it has mandated Exane BNP Paribas to support the liquidity of its securities through a liquidity agreement.
Last week, Klemurs announced the successful placing of 6.8% of its shares, including the over allotment option, at a price of EUR 20 per share during a fixed-price offering on December 6. Demand was 9.4 times above the size of the offering, Klemurs, a subsidiary of French real estate group Klepierre, said in a statement.
Klemurs' portfolio comprises a retail property leased by department store BHV in the 19th arrondissement (district) of Paris, a retail space leased to Truffaut in the 13th arrondissement and a group of stores in the north-western city of Rouen. It is also to act for Klepierre as the buyer of 129 Buffalo Grill restaurants before the end of the year.
