Belgian listed property company Cofinimmo said on Tuesday it is launching a €285 mln rights issue to raise capital for its investment programme for 2015-2017.
Belgian listed property company Cofinimmo said on Tuesday it is launching a €285 mln rights issue to raise capital for its investment programme for 2015-2017.
The issue, which was set at a price of €95 per new share and involves preferential subscription rights for current shareholders, will take place from April 22 up to and including May 6, 2015.
Cofinimmo, which has €3.2 bn of real estate under management, said it will use the proceeds for planned investments in offices and healthcare facilities over the next two years.
'The funds should also allow Cofinimmo to strengthen its balance sheet structure in order to pursue its growth, in the context of its committed investment programme 2015-2017 (amounting to €250 mln),' the company said in a statement.
BNP Paribas Fortis and KBC Securities have been hired as joint global coordinators. BNP Paribas Fortis, ING and KBC Securities are acting as joint bookrunners. Bank Degroof, Belfius bank, Kempen & Co, Joh.Berenberg/Gossler are co-lead managers.