Bringing you live news and features since 2006 

Euros

Hispania completes EUR337m capital increase

RELATED TOPICS​

Hispania Activos Inmobiliario has successfully closed a EUR337 million capital increase by means of an accelerated private placement to institutional investors.

Overall demand surpassed EUR844 million at the offering Price of EUR12.25 per share, which equated to a 4.7 per discount verses the closing price on the day of the capital raising of EUR12.86 per share.

New shares represented 50 pert cent of the company’s share capital before the capital increase and 33 per cent afterwards.
 
“The excellent reception of investors to our capital increase shows how the market trusts Hispania and its capacity to generate more value within its asset portfolio. As of today, Hispania is analysing a pipeline of opportunities with a value amounting to EUR2,400 million. For this reason, it is vital to have available equity in order to take advantage of market opportunities”, says Hispania’s Concha Osácar.

Hispania is the first of the so-called SOCIMIs in the Spanish market to have completed the investment of almost all of the equity raised in its IPO, as well as its leveraging capacity, reaching a total committed investment of circa EUR880 million euros, with an asset portfolio made up of 46 assets (including the assets that BAY is to acquire by virtue of the Investment Agreement signed with Grupo Barceló). It is expected that, after the acquisition of the assets by BAY and once the repositioning capex has been implemented in the current portfolio and in the assets to be acquired by BAY, 57% of the value of the assets in the portfolio will come from hotel assets, 27 per cent from office assets and the remaining 16% from residential assets. These figures include the capex implementation expected for 2015.

Hispania foresees relevant investments for the improvement and repositioning of the assets which are currently part of the portfolio, including BAY, amounting to circa EUR50 million in 2015 – on a consolidated basis.

Latest News

21Shares AG has announced that the firm has added staking to the 21Shares Cosmos ETP (ATOM) and the 21Shares Avalanche..
EFAMA has published its latest Monthly Statistical Release for May 2024...
Solactive writes that it has expanded its collaboration with Kiwoom Asset Management by providing the underlying indices to the KIWOOM..
MSCI has announced the launch of MSCI Private Capital Indexes, writing that with growing investor interest in private markets, high..

Related Articles

Scott Kefer, VictoryEx Capital Holdings
Bailey McCann writes that active ETFs are capturing investor interest, according to the latest data from Morningstar, which finds that...
Chris Lo, Columbia Threadneedle
In a recent insight on India by Columbia Threadneedle Investments, the firm reports that the country’s economic reforms, which aim...
With an election on the horizon in the United States a group of ETFs is poised to capture investments on...
Robot worker
Qraft Technologies, based in South Korea, specialises in the use of AI in security selection and portfolio construction....
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by