Citycon continues strategic capital recycling and is added to OMX Helsinki Benchmark Index
CITYCON OYJ Corporate Press Release 26 November 2021
Citycon’s share (CTY1S) will be added to the added OMX Helsinki Benchmark Index 1 December 2021.
The OMX Helsinki Benchmark Index consists of 50 to 70 of the largest and most traded stocks, representing most sectors. The index serves as an indicator of the overall trend on the Helsinki Stock Exchange and is intended to offer a cost-effective index that an investor can fully replicate. Thus, OMXHB index is especially attractive for use in investment products and as a comparative index for investors.
“We are proud to be recognized and added to the OMX Helsinki Benchmark Index alongside the current list of great companies that make up this important index. This addition will provide more visibility for Citycon, allow us to reach a new and broader group of investors, and shine a spotlight on the great work our team is doing to execute upon our strategy of owning and developing best-in-class, necessity-based hubs,’’ says Scott Ball, CEO of Citycon.
Citycon continues to execute upon its strategic capital recycling strategy with the successful repurchase of 9,500,000 shares in a reverse accelerated bookbuild
As published in Citycon’s Stock Exchange Release 25 November 2021, Citycon successfully repurchased 9,500,000 shares for a total purchase price of EUR 65.8 million in a reverse accelerated bookbuild. Proceeds will be used from the pending sale of the Columbus asset in Finland.
“We are very pleased with the execution of this transaction, which clearly demonstrates our efficient capital recycling acumen. By selling our Columbus asset above book value, a price substantially higher than earlier this year, and utilizing a portion of those proceeds to repurchase our shares at a 40% discount to our third quarter EPRA NRV, we have created significant value for all shareholders,” says Bret McLeod, CFO-elect of Citycon.
For further information, please contact:
Vice President, Marketing & Communications
Phone +46 8 562 532 24
Citycon is the leading owner, developer and manager of multipurpose urban centres. Our centres in key urban areas combine retail, office premises and housing with well-functioning traffic connections. We are committed to sustainable property maintenance, and the total value of the property portfolio in the Nordic Countries managed by Citycon is approximately EUR 4.4 billion. Our centres offer daily consumer goods, health care services as well as other services to meet the daily needs of our customers.