The board of directors of Nyfosa AB (“Nyfosa or the “Company”) has, based on the authorization granted by the annual general meeting on May 9, 2019, resolved on a directed issue of 6,462,824 shares at a price of SEK 93 per share (the “Share issue”). The price has been determined through an accelerated book building procedure and corresponds to a discount of approximately 3 percent in relation to the closing price on Nasdaq Stockholm on February 17, 2020. Nyfosa receives around SEK 601 million before transaction costs through the Share issue.
The Share issue was directed to selected Swedish and international institutional investors, among others Bell Rock Capital Management, Carnegie Fonder, Handelsbanken Fonder, Länsförsäkringar Fastighetsfond, Odin Fonder and Swedbank Robur. Nyfosa intends to use the proceeds from the Share issue to maintain the Company’s stable capital structure and create financial readiness for new business opportunities. The reason for deviating from the pre-emptive rights of existing shareholders was to complete an equity raise in a time and cost efficient manner, thereby enabling the Company to continue acting swiftly on new business opportunities according to its strategy as a growth oriented, transaction-based and opportunistic property company.
Following the Share issue, the total number of shares in Nyfosa will increase with 6,462,824, from 167,728,249 to 174,191,073. The share capital will increase with SEK 3,231,412, from SEK 83,864,124.50 to SEK 87,095,536.50. The Share issue entails a dilution of approximately 3.7 percent, based on the total amount of shares in Nyfosa after the Share issue.
ABG Sundal Collier has acted as sole bookrunner and Advokatfirman Cederquist has acted as legal advisor in the Share issue.