Nyfosa AB (“Nyfosa” or the “Company”) has appointed ABG Sundal Collier to explore the conditions for a directed issue of up to 6.46 million shares (the “Share issue”) through an accelerated book building procedure. If conducted, the Share issue will be directed towards Swedish and international institutional investors.
The Share issue is subject to a resolution by the board of directors of Nyfosa, which, alongside pricing and allocation, is expected to occur before trading starts on Nasdaq Stockholm at 09.00 a.m. on February 18, 2020. The potential Share issue is executed in accordance with the authorization granted by the annual general meeting on May 9, 2019. The Company will publish the result of the Share issue when the book building procedure is finished.
Nyfosa is actively participating on the Swedish property transaction market and expects further business opportunities ahead. Nyfosa intends to use the potential 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 is to complete an equity raise in a time and cost efficient manner, thus 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.
The board of directors may at its sole discretion decide to terminate the book building procedure and refrain from executing the Share issue.