Listed German property company TLG Immobilien has raised €116 mln from a share issue to fund recent and additional acquisitions.
The company said the share placement increases its share capital by around 10%. The new shares are expected to trade on the Frankfurt stock exchange from 2 February and will carry full dividend rights from 1 January 2016.
‘The strong demand for our shares and successful placement of the entire 10%, demonstrate the level of trust which capital markets place in us and is acknowledgement of the sustainability of TLG Immobilien’s business model of accretive growth’, said management board member Peter Finkbeiner.
‘Following several acquisitions in Eastern Germany and the entry into the Western German market, this new capital will enable us to move forward with our successful growth strategy and will support the creation of a pan-German platform,’ he added.
JP Morgan is acting as sole global coordinator and JP Morgan and UBS Limited are acting as joint bookrunners for the private placement. VictoriaPartners is acting as independent financial advisor to TLG Immobilien.
