German listed property group DIC Asset has raised 鈧�100 mln in cash through a capital increase.
German listed property group DIC Asset has raised 鈧�100 mln in cash through a capital increase.
DIC Asset issued 16.6 million new share rights at a price of 鈧�6 per new share.
Another 6.2 million new shares were issued against contribution in kind aimed at partially funding the acquisition of the Unite portfolio. The Frankfurt-based company said it plans to use the cash proceeds to optimise the financing structure of the 鈧�481 mln Unite portfolio.
DIC Asset announced earlier this month that it was raising its stake in the Unite office-led package from 20% to 94% as part of a strategy to streamline the business and further diversify its portfolio.
The portfolio comprises 54 office and commercial properties.
Deutsche Immobilien Chancen Group, DIC Asset's largest shareholder, participated in the cash capital increase via a so-called 'op茅ration blanche' and continues to hold a 33% share in the company.
Bankhaus Lampe and Commerzbank acted as joint bookrunners.
