Today, the management board of Corestate Capital Holding S.A., with the approval of the supervisory board, resolved on a capital increase against cash contributions through partial utilization of authorised capital. The share capital will be increased by 4,186,382 new shares and thus by 19.5% to a total of € 1,924,952.15 under exclusion of shareholders’ subscription rights by issuing new shares without nominal value. As part of a private placement, the new shares were placed at today’s closing price of Corestate shares in Xetra trading on the Frankfurt Stock Exchange, i.e. at an amount of € 17.82 per share, by selected qualified investors.
Luxembourg, 11 September 2020 – Today, the management board of Corestate Capital Holding S.A., with the approval of the supervisory board, resolved on a capital increase against cash contributions through partial utilization of authorised capital. The share capital will be increased by 4,186,382 new shares and thus by 19.5% to a total of € 1,924,952.15 under exclusion of shareholders’ subscription rights by issuing new shares without nominal value. As part of a private placement, the new shares were placed at today’s closing price of Corestate shares in Xetra trading on the Frankfurt Stock Exchange, i.e. at an amount of € 17.82 per share, by selected qualified investors.
The proceeds from the issue amounting to € 74,601,327 are to be used primarily to reduce net financial debt in the short term. The capital measure also increases the entrepreneurial flexibility needed for further significant organic growth and a consistent return to pre-crisis levels of corporate profitability.
The new shares will carry full dividend rights as from 1 January 2020. It is expected that the new shares will be admitted to trading without a prospectus on 17 September 2020 and will be included in the existing listing in the sub-segment of the regulated market with additional post-admission obligations (Prime Standard) of the Frankfurt Stock Exchange on 18 September 2020. Following the private placement, Corestate Capital Holding S.A. will be subject to a 90-day lock-up period in line with market practice. The placement of the new shares was accompanied by Berenberg as Sole Global Coordinator.
About CORESTATE Capital
CORESTATE is an investment manager and co-investor with around € 28 billion in assets under management. The company sees itself as a manager for the entire length of the real estate value chain. Thanks to its fully integrated real estate platform, it is able to offer investors a wide range of services, especially the opportunity to invest in large-scale societal trends such as urbanisation, demographic shifts or sustainability – trends that will continue to have a decisive influence on the living and working environment in the long term. The consistent focus on asset classes that will be successful in the long run constitutes a central cornerstone of the company strategy. At CORESTATE, all concepts are supported with ESG expertise that is unique to the industry. With some 800 experts, CORESTATE offers clients and investors a full range of services and consultation from a single source, from project financing and real estate management to sales. CORESTATE is listed on the Frankfurt Stock Exchange (SDAX) and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 13 countries across Europe, with offices in Frankfurt, Vienna, Zurich, Paris, Madrid and London.
Forward-looking statements
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