20.04.2016
ADO Properties S.A. LU1250154413
DGAP-News: ADO Properties S.A.: ADO Properties successfully places 3,499,999 new shares, generating gross proceeds of approximately EUR 100 million
DGAP-News: ADO Properties S.A. / Key word(s): Capital Increase
ADO Properties S.A.: ADO Properties successfully places 3,499,999 new
shares, generating gross proceeds of approximately EUR 100 million
20.04.2016 / 22:40
The issuer is solely responsible for the content of this announcement.
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Not for release, publication or distribution, directly or indirectly, in or
into the United States, Australia, Canada or Japan or any other
jurisdiction in which the distribution or release would be unlawful.
- 3,499,999 new shares have been placed at a placement price of EUR 28.50
per share, resulting in gross proceeds of approximately EUR 100 million
- Proceeds to be used for continued growth by acquiring further residential
portfolios in Berlin in line with its strategy
Berlin, 20 April 2016: ADO Properties S.A. ("ADO Properties" or the
"Company") has placed 3,499,999 new shares with institutional investors at
EUR 28.50 per share by means of an accelerated bookbuild offering. The
gross proceeds resulting from the transaction amount to approximately EUR
100 million. The Company intends to use the net proceeds to finance the
acquisition of further residential portfolios in Berlin, thereby continuing
its successful growth in line with its strategy, and for general corporate
purposes. Post transaction, ADO Group Limited will retain its 37.0 percent
shareholding in the Company.
The new shares are entitled to full dividend in respect of any dividend
declarations by the Company after the date of issue of the new shares. The
new shares are expected to be submitted to trading on 22 April 2016,
without the publication of a securities prospectus, and will be included in
the existing quotation on the sub-segment of the regulated market with
additional post-admission obligations (Prime Standard) of the Frankfurt
Stock Exchange. Settlement of the transaction is expected to take place on
25 April 2016.
CEO Rabin Savion: "We are very pleased with the strong support from our
existing shareholders in this capital increase and warmly welcome our new
investors in ADO Properties, the only listed pure play Berlin residential
real estate company. We will continue to focus on the Berlin residential
market and creating strong like-for-like growth, with high returns from
targeted capex investments and privatisations.
In the last nine months since our IPO, we have acquired additional
residential properties in Berlin for approximately EUR220 million.
Following our equity issue and in combination with our existing cash we
have now the necessary resources to continue our growth path and can
acquire up to EUR300 million in additional properties before reaching our
maximum leverage target of 50%."
Chairman Moshe Lahmani and Vice-Chairman Shlomo Zohar: "We continue to be
very positive on the long-term growth perspective of the Berlin residential
market and are fully supportive of ADO Properties' corporate strategy and
growth plans."
Kempen & Co N.V. acted as Sole Global Coordinator and Sole Bookrunner for
the Placement. Arbireo Capital is acting as independent financial adviser
to the Company.
About ADO Properties
ADO Properties is a Luxembourg-incorporated residential real estate company
with its operations purely in Berlin and with 14,856 residential units at
year-end 2015. The Company has a fully integrated, scalable in-house
platform with its own property management. Along with the responsibility
for the condition of its apartments and buildings, ADO Properties also
assumes responsibility towards people, employees and neighborhoods. The
portfolio of ADO Properties is focused on central locations in Berlin and
attractive districts at the city's outskirts.
Disclaimer
This announcement does not contain or constitute an offer of, or the
solicitation of an offer to buy or subscribe for, securities to any person
in the United States, Australia, Canada, Japan or in any jurisdiction to
whom or in which such offer or solicitation is unlawful.
This release is not an offer of securities for sale in the United States of
America. Securities may not be offered or sold in the United States of
America absent registration or an exemption from registration under the
U.S. Securities Act of 1933, as amended (the "Securities Act"). Any public
offering of securities to be made in the United States of America would be
made by means of a prospectus that could be obtained from the Company and
would contain detailed information about the Company and management, as
well as financial statements. There will be no public offer of securities
in the United States of America.
The securities referred to herein may not be offered or sold in Australia,
Canada or Japan or to, or for the account or benefit of, any national,
resident or citizen of Australia, Canada or Japan.
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20.04.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: ADO Properties S.A.
20 rue Eugène Ruppert
LK-2453 Luxembourg
Grand Duchy of Luxembourg
Phone: +49 (0)30-403 907 900
Fax: +49 (0)30-403 907 901
E-mail: [email protected]
Internet: www.ado.immo
ISIN: LU1250154413
WKN: A14U78
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard),
Luxembourg; Regulated Unofficial Market in Dusseldorf,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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456093 20.04.2016
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