Finnish property investor Citycon is to offer a maximum of 27,594,782 new shares in a rights issue that could raise EUR 99 mln. The share subscription period starts on 19 September 2007 and will run until 3 October 2007. Current shareholders will be able to purchase one share for every seven held on the record date of 13 September. Subscription rights will be transferable and are expected to be traded on the Helsinki Stock Exchange from 19 to 26 September.
Finnish property investor Citycon is to offer a maximum of 27,594,782 new shares in a rights issue that could raise EUR 99 mln. The share subscription period starts on 19 September 2007 and will run until 3 October 2007. Current shareholders will be able to purchase one share for every seven held on the record date of 13 September. Subscription rights will be transferable and are expected to be traded on the Helsinki Stock Exchange from 19 to 26 September.
Citycon, Finnish market leader in the shopping centre business, intends to use the net proceeds of the Offering to partially finance the acquisition of the Iso Omena shopping centre in Espoo, Greater Helsinki announced in August. The acquisition of Iso Omena (Finnish for 'Big Apple'), for EUR 329 mln, is expected to be completed this month.
