This operation will allow Castellana Properties to increase its capital in 1 million 926 thousand euro, issuing, for that effect, 1.926.099 new shares. Each share will be valued at 1 euro, it can be read in the release made available at Mercado Alternativo Bursátil.
In this way, it will be possible to see «an immediate improvement in terms of treasury» for the company. The same release also mentions that «the capital increase’s goal is to cover the company’s debt to its shareholders».
With this capital increase, the company’s capital stock will grow to over 74.9 million euro.
The REIT led by South African fund Vukile Property has clear goals for the future. One of them is to increase its portfolio – which is currently estimated at 898 million euro –, so as to reach 1.500 million euro.
With this goal in mind, Vukile injected 600 million euro on its REIT in March.