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Care Property looks to raise €72M in new shares offering

Care Property Invest NV launched a public offering of new shares with irrevocable allocation rights to raise additional capital of up to roughly €72.1 million.

The offering comprises a public offering of new shares in Belgium and a private placement of scrips in Belgium, Switzerland and other member states of the European economic area.

Shareholders may subscribe for the offering of up to 4,293,965 new shares at an issue price of €16.80 per share and at a ratio of seven irrevocable allocation rights for two new shares.

The subscription period will run Oct. 12 through Oct. 23, while the scrips placement will occur Oct. 25.

Care Property expects the net proceeds to total about €69.8 million, which it aims to use to acquire healthcare real estate sites and fund its development projects.

KBC Securities and Bank Degroof Petercam are the joint global coordinators and joint book runners for the offering, while Belfius Bank is the co-lead manager.