TLG IMMOBILIEN AG launched an offering of 6.7 million new shares, increasing its share capital to up to approximately €74.2 million, which represents an estimated 10% increase of the share capital.
The new shares are available exclusively to institutional investors in private placements, through an accelerated bookbuilding offering. The placement, which started Jan. 30, is expected to end Jan. 31 when the placement price of the new shares will be announced, upon the conclusion of the accelerated bookbuilding offering.
TLG Immobilien agreed to a customary lock-up period of 90 days.
Net proceeds from the private placement will accommodate funding of recent and additional acquisitions of office and retail properties in Germany, as well as finances for general corporate purposes.