In the context of a cash capital increase, TLG IMMOBILIEN AG has placed all offered approx. 6.7 million new shares with institutional investors at an issue price of €17.20 per share in an accelerated bookbuilding offering. The gross issue proceeds will thus amount to approx. €116m.
• Approx. 6.7 million new shares placed
• Placement price set at €17.20 per share
• Gross issue proceeds of approximately €116m
• Issue proceeds to be invested in recent and additional real estate acquisitions
TLG IMMOBILIEN AG intends to use the net proceeds from the private placement to fund recent and additional acquisitions of German office and retail properties in line with its defined acquisition criteria as well as general corporate purposes.
As a result of the capital increase, the Company's share capital increases by approx. 10%. It is expected that the new shares will be admitted to trading with a prospectus on 2 February 2017 and will be included in the existing quotation on the sub-segment of the regulated market with additional post-admission obligations (Prime Standard) of the Frankfurt Stock Exchange (Frankfurter Wertpapierböse) on 7 February 2017. The new shares will carry full dividend rights from 1 January 2016. Settlement/closing of the transaction is expected to take place on 7 February 2017.
“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 AG’s business model of accretive growth”, said Peter Finkbeiner, member of TLG IMMOBILIEN AG's Management Board. “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.”
J.P. Morgan is acting as Sole Global Coordinator and J.P. Morgan and UBS are acting as Joint Bookrunners for the private placement. VictoriaPartners is acting as independent financial advisor to TLG IMMOBILIEN AG.
