Delek Global Real Estate (DGRE) is to issue 22% of its share capital to institutional investors in a private placement on London's Alternative Investment Market (AIM). The company is part of the Israeli group Belron International. It plans to offer the shares at 225p to 290p, valuing the company at £623-760 mln, or EUR 911 mln to EUR 1.1 bn. No details were released about how many shares would be involved or the timing of the offer.
Delek Global Real Estate (DGRE) is to issue 22% of its share capital to institutional investors in a private placement on London's Alternative Investment Market (AIM). The company is part of the Israeli group Belron International. It plans to offer the shares at 225p to 290p, valuing the company at £623-760 mln, or EUR 911 mln to EUR 1.1 bn. No details were released about how many shares would be involved or the timing of the offer.
DGRE said it will use the proceeds to fund the acquisition of prime income-yielding property in western Europe and Canada, and as working capital. Merrill Lynch is the lead underwriter and bookrunner, and Panmure Gordon (Broking) Ltd. is the co-leader.