The board of directors of Aroundtown SA approved an increase in the company's total share capital by €950,000 to roughly €10.4 million.
The diversified real estate investment company will issue 95 million new ordinary shares with a nominal value of 1 euro cent apiece. The new shares will carry dividend rights with respect to fiscal year 2017 and onward, and will rank pari passu with the company's existing common stock.
The number of shares to be placed will be specified by the board of directors through a separate resolution.
Net proceeds generated from the capital increase will be used mainly to finance Aroundtown's growth strategy.
