Axiare Real Estate Socimi €394 million capital raising

Overview:

• Axiare Real Estate Socimi has made a private placement of shares of the company through an accelerated bookbuilding.
• The listed real estate investment company closed an accelerated placement with investors ahead of its capital increase, and wants to maintain the speed of investment that has enabled it to disburse €460 million since its IPO last summer.
• To this end, the company made a capital increase of €394 million with the aim of doubling its share capital, which involved the issue of 35.87 million new shares at a nominal value of €10 euros per share, plus a premium of €1 per share.
• Axiare owns assets worth €507.95 million, including office buildings in Madrid and logistics warehouses in Guadalajara. During the first quarter of 2015, the Socimi generated revenues of €7.59 million and a profit of €2.32 million.

Adam Majeed - Regional editor