TLG procures €222mn through capital increase
TLG Immobilien has placed 8.5 million new shares with institutional investors at a price of €26.13 per share and intends to use the €222mn in proceeds to finance its announced acquisitions. The new shares are expected to be admitted to trading on July 1 and will be included in the existing Prime Standard listing of the Frankfurt Stock Exchange one day later. TLG’s share capital will thus increase by 8.2%, to nearly €112mn. The private placement was carried out in an accelerated bookbuilding process and was coordinated by Deutsche Bank and JP Morgan. TLG had issued a €600mn bond with 1.5% interest at the end of May, the proceeds of which will also be invested in real estate acquisitions.
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