Helsinki-based Citycon has placed 25 million shares, approximately 15% of the company's share capital, with Finnish and international investors in an accelerated book-building offering. The process began on Monday and was due for completion by 6.30pm on Tuesday. The offer price was not disclosed. Citycon's board said in a statement that the funds raised will be used to finance further investments and to broaden the company's shareholder base.
Helsinki-based Citycon has placed 25 million shares, approximately 15% of the company's share capital, with Finnish and international investors in an accelerated book-building offering. The process began on Monday and was due for completion by 6.30pm on Tuesday. The offer price was not disclosed. Citycon's board said in a statement that the funds raised will be used to finance further investments and to broaden the company's shareholder base.
A property investment company specialising in retail premises, Citycon leases, manages and develops its property portfolio and plans and commissions the construction of new premises. The company concentrates on urban growth centres in Finland, Sweden and the Baltic countries.
