IDG's successful new share offer raises €149.9m

Italian REIT Immobiliare Grande Distribuzione has said it has completed the rights offer of approximately 29 million new shares, raising €149.9 mln from shareholders and a supplementary rights auction.

The Bologna-based real estate investor and developer decided to launch a capital increase at its extraordinary shareholders meeting held on 12 February.

During the offering period, which ran from 26 March to 13 April, some 28.45 million shares were acquired through nearly 80 million option rights, representing 97.99% of the total new shares offered. This raised a total of almost €147 mln.

The unexercised rights were subsequently auctioned and successfully sold during the first trading session on the Italian stock exchange, held on 18 April, raising an additional €3 mln.

IGD's new share capital amounts to €749.7 mln, represented by just over 110 million ordinary shares.


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