Swedish property firm Sagax mulls $185 mln share issue
20/06/2023 18:18
OSLO, June 20 (Reuters) - Swedish commercial real estate
investor Sagax SAGAa.ST has hired bankers to explore
conditions to raise 2 billion crowns ($185 million) in a common
share issue, it said on Tuesday.
The company said it assesses that the current market
environment could present attractive investment opportunities,
while it is committed to maintaining a conservative capital
structure and strong liquidity position.
"It is the Board of Directors' assessment that the 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," Sagax said in a statement.
Sagax has mandated Sundal Collier AB and J.P. Morgan to act
as joint book runners. Pricing and allocation would, in case the
share issue goes ahead, take place before on June 21.
($1 = 10.8044 Swedish crowns)
(Reporting by Victoria Klesty; Editing by Leslie Adler)
((victoria.klesty@thomsonreuters.com; +47 2331 6592; Reuters
Messaging: victoria.klesty.thomsonreuters.com@reuters.net))