Capital increase of up to Euro 74,723.86 by the issuance of up to 996,318 new shares; placement of shares by way of an accelerated bookbuilding process.
On February 23, 2017 the Management Board of CORESTATE Capital Holding S.A. (the “Company”) resolved to increase the company’s share capital from authorized capital against cash contributions from Euro 945,801.14 by a nominal amount of up to Euro 74,723.86 (corresponding to approximately 7.9 % of the current share capital) to up to Euro 1,020,525.00 by issuing up to 996,318 new ordinary shares (the “New Shares”). The pre-emptive rights of the Company’s existing shareholders have been cancelled. The New Shares are entitled to dividends as of January 1, 2016 and rank pari passu with the existing shares of the Company. The Company’s supervisory board has approved the transaction.
The offering will be launched today via an accelerated bookbuilding process and the New Shares will be offered exclusively in a private placement to domestic and international institutional investors outside the United States. The Company has agreed to a customary lock-up of 90 days after the inclusion of the New Shares to trading. The New Shares are expected to be included to trading in the Entry Standard segment of the Frankfurt Stock Exchange shortly after the successful completion of the capital increase, on or around February 27, 2017.
Starting on March 1, 2017, the Company expects its shares to be traded in the newly created market segment “Scale” of the Frankfurt Stock Exchange, which will replace the Entry Standard segment as of March 1, 2017. The final placement volume, placement price and the proceeds from the capital increase will presumably be announced in the course of tomorrow following completion of the accelerated bookbuilding procedure. The Company reserves the right to close the books at any time.
The Company intends to use the proceeds from the capital increase for warehousing purposes, i.e. the acquisition of certain real estate assets on its own account prior to converting them into investment products for its clients.
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
This press release may contain forward-looking statements. Forward-looking statements are all statements that are not historical facts and events. This applies wherever there is information about future financial profitability, plans and expectations with regard to the company, growth and profitability as well as economic conditions to which the company is exposed. Statements using the words „should“, „may“, „will“, „believes“, „expects“, „assumes“, „assumes“, „estimates“, „plans“, „believes“, „to the knowledge“, „estimates“ or similar expressions indicate such forward-looking statements. Forward-looking statements are based on current estimates and assumptions made by management to the best of their knowledge. Such forward-looking statements are based on assumptions and factors and are subject to uncertainties, the non-occurrence or occurrence of which may cause the actual circumstances, including the Company’s net assets, financial position and results of operations, to differ materially from or be more negative than those expressly or implicitly assumed or described in these statements. Certain forward-looking statements, while appropriate at this time, may prove to be incorrect. Various known and unknown risks, uncertainties and other factors could cause the forward-looking statements, actual results, financial position, development or performance of the Company to be materially different from those expressed or implied by such statements. Therefore, the Company and its management cannot be held responsible for the actual occurrence of the forecasted developments. It should be noted that the Company assumes no obligation to update such forward-looking statements or to conform them to future events or developments.
