Intervest slips as trading resumes after placing new shares

Intervest Offices & Warehouses NV

01/12/2022 08:49

** Shares in Intervest Offices & Warehouses  PRIF.BR  drop
around 5% as the Belgian real estate company resumes trading
after placing new shares
    ** The group completed accelerated private placement with
gross proceeds of EUR 49.2 mln ($51.3 mln), which caused a
temporary suspension of trading on Wednesday mid-afternoon
    ** "This issue creates more headroom for its debt ratio that
hit 50% over 3Q22," KBC Securities' analyst Wim Lewi writes
    ** "All real-estate segments are bracing for the potential
impact of yield expansion on the FV (fair value of debt)," he
notes
    ** Lewi adds Intervest has a "relatively busy" pipeline it
can focus on now that the issue is "out of the way"
    ** The stock is down around 31% YTD
($1 = 0.9598 euros)
 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))