Hiag: Capital increase in sight
Hiag Immobilien Holding is planning a capital increase in the fourth quarter. An extraordinary general meeting is to authorise the Board of Directors to issue up to 1.7 million new shares.
Assuming a suitable market environment, Hiag Immobilien Holding intends to issue new registered shares by way of a rights issue, probably in the fourth quarter of 2021. The company intends to use the proceeds from the capital increase to finance projects, reduce debt financing and realise opportunities to purchase real estate.
According to Hiag, the anchor shareholders intend to participate in the planned share issue with only 15% to 20% of their subscription rights. As a result, the proportion of freely tradable shares, the so-called free float, is expected to increase from just under 37% today to around 45%.
Furthermore, the Board of Directors proposes the election of Anja Meyer as a new member of the Board of Directors for a term of office until the end of the next Annual General Meeting. Meyer, owner and Board delegate of Smeyers Holding, is to complete the Hiag Board of Directors as its sixth member.
Due to the pandemic-related restrictions, the Extraordinary General Meeting will be held on 29 September without shareholders present. (ah)
