Vastned Retail has raised EUR 75.6 mln through an accelerated bookbuilding offering of 1.6 million new ordinary shares at a price of EUR 45.50 per share.
Vastned Retail has raised EUR 75.6 mln through an accelerated bookbuilding offering of 1.6 million new ordinary shares at a price of EUR 45.50 per share.
The placement represented 9.9% of the issued share capital.
The shares were offered to institutional and other qualified investors in the Netherlands and abroad.
Vastned Retail said the net proceeds would be used to strengthen the company's balance sheet and to enable it to take advantage of investment opportunities. CEO Reinier van Gerrevink commented: 'The present retail property markets do not allow you to sit still. Next to selling non-core properties, which we recently did, it is also the time to look ahead and improve our property portfolio by taking opportunities in our present investment markets. Equity financing enables us to do so in a prudent way, so we can realise our balanced growth in European property.'
ING Bank acted as sole global coordinator and sole bookrunner for the offering.
