Capital increase: TLG Immobilien raises more than 100 million euros
TLG Immobilien AG has raised gross proceeds of 101.8 million euros in a cash capital increase. After deduction of the bank commissions, the company will receive fresh capital amounting to EUR 100.7 million as net issue proceeds. TLG Immobilien intends to use the fresh funds to acquire further properties.
Peter Finkbeiner, member of TLG's Executive Board, says that the proceeds from the issue will enable the company to invest up to an additional 200 million euros in further acquisitions and thus reach its provisional portfolio target of two billion euros. Around 280 million euros have already been invested in the purchase of new properties since the IPO in October 2014.
As part of the capital increase, 6.13 million new shares were placed with institutional investors at an issue price of EUR 16.60 per share as part of an accelerated bookbuilding process. The new shares, which will carry full dividend rights for 2015, were admitted to trading without a prospectus on November 23, 2015 and included in the existing Prime Standard listing on the Frankfurt Stock Exchange. (ah)
