Finnishcompany Sponda Plc saidApril 1 that Forum Fastighets has become the owner of 28.07% of its shares.
Property Investor Europe reported the same day that ForumFastighets is now the largest shareholder in Sponda.
Spondacompleted a rights offering,in which Forum Fastighets subscribed for 37,219,116 new shares, as well as 15,961,747new shares with acquired subscription rights, the statement said.
Additionally,on March 31, Forum Fastighets agreed to buy all of the shares belonging to Oy Palsk,Sponda's largest shareholder prior to the rights issue. As a result, Oy Palsk's42,163,745 shares will be transferred to the Forum Fastighets group.
FöreningenKonstsamfundet r.f. owns approximately 66% of Forum Fastighets.
Spondahad carried out the rights issue in February in order to fund its €576 million purchaseof the Forum office and retail complexin Helsinki, PIE noted. The transactionreflected Sponda's decision to refocus its portfolio on core retail and office propertyin Helsinki and another Finnish city of Tampere, the publication added.