Fonciere des Murs, a subsidiary of Fonciere des Regions group, announced on Tuesday that it is to carry out a capital increase of about EUR 200 mln through the free attribution of warrants to its shareholders. The proceeds will be used to fund acquisitions made in 2007 for a value of EUR 130 mln, as well as to support future projects and increase the free float of the company. Since January this year, the company has spent EUR 653 mln in acquisitions.
Fonciere des Murs, a subsidiary of Fonciere des Regions group, announced on Tuesday that it is to carry out a capital increase of about EUR 200 mln through the free attribution of warrants to its shareholders. The proceeds will be used to fund acquisitions made in 2007 for a value of EUR 130 mln, as well as to support future projects and increase the free float of the company. Since January this year, the company has spent EUR 653 mln in acquisitions.
Fonciere des Murs said in a press release that each shareholder will get a share warrant (Bon de sousscription d'actions) for each share owned. Five warrants will give shareholders the right to subscribe to a new share issued by the company at a price of EUR 24. The subscription period will start on Wednesday and run until 3 July 2007. During the subscription period, the warrants will be tradable and listed on Eurolist d'Euronext Paris.
Specialising in the long-term ownership and management of business premises in the health, hotel, leisure and restaurant sectors, Foncière des Murs has been a listed property company with SIIC status since early 2005. The company's shares closed at EUR 28.25 on Tuesday.
