Xior drops as ESHF I sells 1 mln shares at discount

Xior Student Housing NV

27/06/2023 08:38

** Shares in Belgian real estate company Xior Student
Housing  XIOR.BR  drop 4.5% after ST Holding's ESHF I offered
about 1 million shares in Xior via an accelerated share sale
    ** KBC Securities says, quoting Bloomberg News, that the
shares were offered at a price of 25.53 euros ($27.93) per
share, representing an 8% discount to Monday's close
    ** "It is clear that this transaction is ill-timed in a
market that is suffering from ECB interest rate confusion and
distressed real-estate companies in Scandinavia and Germany,"
KBC says
    ** The brokerage notes the relatively high discount also
reflects the low appetite for deals in the last week before the
low liquidity summer months
    ** However, KBC adds the structural trend in student housing
remains intact and says it considers these levels as interesting
buying opportunities
    ** The Xior stock is on track for worst day in nearly three
months

($1 = 0.9142 euros)

 (Reporting by Michal Aleksandrowicz)
 ((michal.aleksandrowicz@tr.com))