Supplementary information regarding Balder’s directed issue of 35 million Class B shares
The board of directors of Fastighets AB Balder (publ) (“Balder”) has, based on the authorization granted by the annual general meeting on 12 May 2022 and in accordance with Balder’s press release published earlier today on 16 December 2022, resolved to carry out a directed share issue of 35,000,000 Class B shares at a subscription price of SEK 50.80 per share (the “New Issue”). All shares in the New Issue have been subscribed for by AMF. Through the New Issue, Balder will receive proceeds amounting to approximately SEK 1.8 billion. The issue costs are estimated to amount to approximately SEK 100,000. Settlement date in the New Issue is 29 December 2022.
The purpose of the New Issue and the reason for the deviation from the shareholders’ preferential rights is to let a reputable investor increase its ownership in Balder. Further, the New Issue enables Balder to repurchase outstanding hybrid capital and due to the extended time period required to carry out a rights issue and the current market sentiment, it is the board's assessment that a new issue with deviation from the shareholder's preferential rights is in Balder's and all shareholder's interest and therefore also justifies deviation from the main rule that new issues shall be carried out with preferential rights for the shareholders. The board of directors’ assessment is that the subscription price in the New Issue is in accordance with market conditions, since it has been determined through a negotiation at arm's length between Balder and the investor where the subscription price essentially corresponds to the closing price of SEK 50.85 for Balder’s Class B share on the day before the transaction.
The New Issue entails a dilution effect of approximately 3.0 per cent in relation to the total number of shares and approximately 2.0 per cent in relation to the total number of votes in Balder by increasing the number of outstanding shares from 1,119,000,000 to 1,154,000,000 (divided into 67,376,592 Class A shares and 1,086,623,408 Class B shares) and the number of votes increases from 172,538,933.8 to 176,038,932.8.
For further information, please contact:
Erik Selin, CEO, tel. +46 (0)31-10 95 92
Ewa Wassberg, Head of Finance, tel. +46(0)31-351 83 99
This information is information that Fastighets AB Balder (publ) is obliged to make public pursuant to the EU Market Abuse Regulation, the Securities Markets Act and the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 18:00 CET on 16 December 2022.
Fastighets AB Balder is a listed property company that owns, manages and develops residential and commercial properties in Sweden, Denmark, Finland, Norway, Germany and the United Kingdom. The head office is located in Gothenburg. As of 30 September 2022, the property portfolio had a value of SEK 213.2 billion. The Balder share is listed on Nasdaq Stockholm, Large Cap.