Axiare Patrimonio completes a capital expansion of €93.4M

Axiare Patrimonio completes a capital expansion of €93.4M

The transaction consisted of the emission of 7,187,498 new company shares (approximately 9.99% of the social capital before expansion), at an emission price of 13 euros per share, which represents a discount of 2.6% on the listed price at close of session of 7 March 2017. The new shares were listed today in the Stock Markets of Madrid, Barcelona, Bilbao and Valencia

After the capital increase, with its base in the actual listed price, Axiare Patrimonio will have more han 1,000 million euros of market listed capital.

According to spokespeople from SOCIMI “the funds obtained will permit Axiare Patrimonio, in a very effective manner, to continue investing in the excellent opportunities on the market, and to generate very attractive returns for its shareholders”. In this way, it can be seen that the company has a pipeline of investments at more than 1,100 million euros, of which 400 million are in an advanced stage of execution. 

The placement has been carried out between a base of qualified investors and international institutions, including both current shareholders and new investors., “allowing Axiare to diversify the company  shareholder base and to improve the free float and the liquidity of the share”. There is also a defensive interpretation to partly dilute the weight of Colonial in the socimi shareholders.

Axiare Patrimonio had as legal consultants in this transaction Ernst & Young Abogados and Uría Menéndez Abogados. The coordinating global banks were Capital Markets and Morgan Stanley, and Citigroup and Deutsche Bank acted as Joint Bookrunners, all with legal consultancy services from the lawyers Allen & Overy.

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