Domus, one of the largest privately owned residential landlords in central Europe, is seeking to raise up to €250 mln in an IPO on Euronext Amsterdam.
Domus, one of the largest privately owned residential landlords in central Europe, is seeking to raise up to €250 mln in an IPO on Euronext Amsterdam.
The offering is aimed exclusively at institutional investors. It will consist of up to 2.3 million newly issued Domus shares with a target of about €38 mln in gross proceeds. In addition, its parent company, RPG Property, will offer 9.9 million existing shares, corresponding to up to 55% of Domus' issued capital.
Domus announced the launch of the offer period on Thursday 24 April. The price range has been set at between €16.50 to €20.50 per share. 'The proceeds of the capital increase will be used to finance the completion of Domus' capital expenditure programme and strengthen its capital base and reserves,' the company said.
JP Morgan Securities is acting as sole global coordinator and bookrunner for the IPO. Kempen & Co and Wood & Company Financial Services are acting as lead managers.
Domus owns over 44,000 residential units, with a total floor area of more than 2.6 million m2, in the region around Ostrava, the third largest city in the Czech Republic. The portfolio has a gross asset value of €884 mln. At end-2013, Domus posted rental income of €78 mln, EBITDA of €57 mln and funds from operations of €40 mln.
For more on the listing, see Domus IPO: revenue growth 'outperforms German peers'
