Cofinimmo

• Capital increase via an accelerated bookbuild offering of 2,785,805 new shares, corresponding to c. 8.2% of the company’s outstanding shares prior to the capital increase, at an issue price of €60.00 per share, generating gross proceeds of €167 million for Cofinimmo.
• The issue price of €60.00 per share represents a discount of 6.6% compared with the last trading price on 3 October 2023 of €64.25 per share.
• The capital increase was launched on the back of a selective market sounding exercise, which resulted in indications of interest covering the total deal size prior to launch.
• The orderbook was covered within 15 minutes post launch and the final orderbook was multiple times covered, with allocations strongly scaled back and skewed to existing long only shareholders, real estate specialists and fundamental accounts.
• Cofinimmo intends to use the net proceeds to reinforce its balance sheet and finance the remaining amounts to be invested to complete ongoing development projects. Following the capital increase, the pro forma debt-to-assets ratio would drop to approximately 43% at the end of 2023.

Van Lanschot Kempen has advised on Real Estate transactions in 12 different countries in Europe over the last 5 years