Nieuwe Steen Investments: successful private share issue

Nieuwe Steen Investments n.v. has privately placed 2,410,490 new shares. The shares were placed with various institutional investors at a fixed price of € 15.60. NSI capital increased by € 37.1 mln and total outstanding shares now amounts to 31,522,490.

The capital increase will be used to finance the growth of NSI’s portfolio. NSI looks to increase its portfolio to € 1 bln in the short term and to finance this for 50% out of its own means.

A public share offer is in the making. It is expected during Fall this year and is open to private investors as well. Management maintains its forecast that direct investment result per share will reach € 1.35 during 2002.

The success of this private share issue reflects the increased interest by institutional investors in NSI. Apart from its excellent results and its solid performance, the fact that NSI has been incorporated in the EPRA-index last year and early this year in the GPR250-index.

(source: Nieuwe Steen Investments)

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