Swedish property firm Sagax falls on discounted private issue

Sagax AB

21/06/2023 08:17

** Shares in Swedish commercial real estate investor Sagax
 SAGAa.ST  drop 3.6% following a discounted private placement
    ** The price of SEK 206 per share was set through
accelerated book building and represents a 5.07% discount
compared to Tuesday's closing price 
    ** "Share issue would lead to higher profit from property
management, cash flow and net asset value per share after the
proceeds from the Share issue have been invested," the board of
directors said in a statement, as it believes the "current
market environment could present attractive investment
opportunities"
    ** The stock is among the biggest fallers on the
pan-European STOXX 600 index  .STOXX 

 (Reporting by Agata Rybska)
 ((agata.rybska@thomsonreuters.com))