Castellum rises after it announces rights issue

Akelius Residential Property AB (publ)

05/05/2023 10:12

** Shares in Castellum  CAST.ST  rise around 4% after the
Swedish real estate company on Thursday evening resolved on a 10
billion Swedish crown ($979.20 million) rights issue 
    ** The company set the subscription price at 62 crowns, a
49% discount to Thursday's closing price of 120.70 crowns
    ** Carlsquare analyst Bertil Nilsson notes the low
subscription price, as well as subscription guarantees from
Akelius Residential  AKELd.ST  for 41.9% and from Citigroup and
Nordea for remaining 58.1% of the issue
    ** "This shows financial strength both in the issue and for
the company going forward," says Nilsson 
    ** Up to Thursday's close, shares were down 4.4%​
year-to-date
    

($1 = 10.2124 Swedish crowns)

 (Reporting by Greta Rosen Fondahn)
 ((Greta.RosenFondahn@thomsonreuters.com))