Helsinki-based property group Sponda intends to raise up to EUR 250 mln through a share issue to finance the acquisition of the Finnish real estate investment company Kapiteeli. The transaction in mid-December 2006 doubled Sponda's real estate portfolio to about 2 million m[sup]2[/sup] of total leasable area across Finland.
Helsinki-based property group Sponda intends to raise up to EUR 250 mln through a share issue to finance the acquisition of the Finnish real estate investment company Kapiteeli. The transaction in mid-December 2006 doubled Sponda's real estate portfolio to about 2 million m2 of total leasable area across Finland.
Sponda's shareholders backed a management proposal at an extraordinary general meeting on Friday to issue a maximum of 73,307,275 new shares with a nominal value of EUR 1. The acquisition of Kapiteeli was financed from a EUR 1.5 bn short-term credit facility which will be partly repaid by the proceeds of the new share issue. Sponda is the largest investment company listed on the Helsinki Stock Exchange.
