Árima will open its doors to new shareholder Ivanhoé Cambridge

Árima will open its doors to new shareholder Ivanhoé Cambridge

In order for this process to be carried out, Árima should soon start a new capital increase operation, which may generate a total 150 million euro. According to the release issued by the Bolsa de Madrid (Madrid Stock Exchange) – where the REIT has been listed for a year –, «Árima commits to issuing and allocating to Ivanhoé Cambridge the number of shares correspondent to the aforementioned capital increase». The value for each share should not be above 10.4 euro.

The terms for this operation should be submitted for approval during the Shareholders Extraordinary General Meeting which will take place this Tuesday 5th of November.

The acquisition should be carried out by the Canadian real estate company’s subsidiary specialised in investments Ivanhoé Cambridge Holdings UK LYD, mentioned the document.

After the operation is completed, Ivanhoé Cambridge will become the REIT’s largest shareholder, since the remaining three most representative shareholders – Bank of Montreal (10.4%), fund Pelham (9.9%) and UBS (9.8%) – do not have more than 11% of the shares.

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