Cofinimmo raises EUR 26.4m in share placement

Belgian property company Cofinimmo has raised EUR 26.4 mln following the successful placement of 330,000 ordinary shares at a price of EUR 80 per share. The funds will be used by Cofinimmo as part of a broader plan to fund committed capital expenditures and strengthen the group's consolidated balance sheet.

The placement price represented a 4.5% discount on the then quoted price and a 5.5% discount on the previous day's closing price on Euronext Brussels and Paris.

The operation brings the total number of outstanding ordinary and preference shares comes to 13,784,422. Cofinimmo still owns 22,374 treasury shares. Cofinimmo raised EUR 26.4 mln.

The placed shares were the subject of a lock up provision for a 90-day period following the bookbuild offering of 26 March 2009. The lock up was waived on 5 June. The shares were all placed by Petercam.