its Italian IPO at €10.00 pershare and May 13 will mark its trading debut on the Mercato TelematicoAzionario.
The companyraised total proceeds of €215 million, excluding the overallotment option. Theoffer price gives COIMA RES a market capitalization of €360.1 million.
Thecompany has now completed its offering of 21.5 million shares targetedexclusively at institutional investors. The offering received interest fromdomestic as well as foreign investors from continental Europe, U.K. and U.S.
COIMARES, which recently downsizedthe minimum offering size of its IPO to €215 million from €300 million,received approval from the Commissione Nazionale per le Società e la Borsa onMay 6, as previously reported.
Thecompany has invested over €1 billion on core and value-added acquisitions inthe last 18 months, and has more than €5 billion of assets under management onbehalf of international and domestic institutional investors, according to its website. It will mainly focus oncommercial properties with an aim to generate rental income.
Theoffering is coordinated and directed by Mediobanca - Banca di CreditoFinanziario SpA and Citigroup Global Markets Ltd. as joint global coordinators,which together with Kempen & Co NV, Banca IMI SpA and UniCredit Bank AG,also act as joint bookrunners. Mediobanca - Banca di Credito Finanziario actsas a sponsor.
ChiomentiStudio Legale, Shearman & Sterling LLP and Maisto e Associati are servingas legal advisers to the company, and Clifford Chance Studio Legale Associatois acting as legal adviser to the joint global coordinators. The company'sauditing firm is Reconta Ernst & Young SpA.