Brief: Grounds Real Estate Development Closes 1st Phase Of Private Placement In Germany

Grounds Real Estate Development AG

15/12/2017 07:20

Dec 15 (Reuters) - THE GROUNDS REAL ESTATE DEVELOPMENT AG 
 AMMn.DE : 
    * SAID ON THURSDAY CLOSING OF THE 1ST PHASE OF THE PRIVATE 
PLACEMENT IN GERMANY 
    * OF THE TOTAL OF 5.1 MLN NEW SHARES AT A PRICE OF EUR 
2.20/SHR, A 
TOTAL OF 43.3% AND 2.2 MLN NEW SHARES WERE SUBSCRIBED FOLLOWING 
THE COMPLETION OF THE PRIVATE PLACEMENT IN GERMANY 
    * GROSS ISSUE PROCEEDS OF EUR 4.9 MLN 
    * REMAINING UP TO 2.9 MLN NEW SHARES WILL NOW BE OFFERED TO 
INSTITUTIONAL INVESTORS IN SOUTH AFRICA AFTER THE END OF THE 
LOCAL SUMMER HOLIDAYS AFTER MID-JANUARY 2018 
    * AFTER COMPLETE PLACEMENT, SHARE CAPITAL WOULD INCREASE 
FROM 
CURRENTLY EUR 12.9 MLN BY EUR 5.1 MLN TO A TOTAL OF EUR 18.0 MLN 
 
 Source text for Eikon:  urn:newsml:reuters.com:*:nEQ5Km6nTa 
     
 Further company coverage:  AMMn.DE   
    
 
 
 (Gdynia Newsroom) 
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