Hemfosa Fastigheter implements private placement of preference shares
The Board of Hemfosa Fastigheter AB (publ) (“Hemfosa Fastigheter”) has decided to exercise the mandate granted at the Annual General Meeting 2015 to implement a private placement encompassing a total of 999,999 new preference shares to two institutional owners.
The subscription price was SEK 166.30 per preferential share, corresponding to a discount of 2.5 percent compared with the volume-weighted average price paid for the share during the ten most recent trading days ending September 25, 2015. The Board has deemed the subscription price to correspond to market terms and believes that greater institutional ownership is valuable given the contribution this makes to a more stable and long-term ownership profile. The issue will provide Hemfosa with additional equity that will improve the company’s key figures while also infusing funds for continued expansion.
The net proceeds from the issue amounts to SEK 166,299,833.70. Following the issue, the number of preference shares in Hemfosa Fastigheter will total 10,999,999. The new preference shares are expected to carry entitlement for dividends as of the record date for dividends that falls on October 9, 2015.
For further information, please contact:
Jens Engwall, CEO, firstname.lastname@example.org, mobile +46 70 690 65 50, office +46 8 448 04 80
About Hemfosa Fastigheter
Hemfosa is a Swedish property company with a well-balanced and geographically diversified property portfolio focusing on a high proportion of community service properties with the State and municipalities as the largest tenants. This provides stable cash flows and a healthy yield. In order to create value, Hemfosa also aims to actively participate in the transaction market. At June 30, 2015, Hemfosa owned commercial properties in Sweden with a total property value of approximately SEK 30 billion, including the company’s share of the property value in joint ventures. The company’s common share has been listed since March 2014, and the preference share since December 2014, both on Nasdaq Stockholm. Read more at www.hemfosa.se.