Xior jumps after it agrees to buy student houses in Poland, Portugal

Xior Student Housing NV

27/06/2024 11:36

** Shares in Xior Student Housing  XIOR.BR  rise 5%, topping
Belgium's BEL 20 index  .BFX , after it agreed to buy two
student residences in Poland and Portugal in a deal that will
bring in a new cornerstone investor
    ** "We like the deal itself for its good yield and the fact
that Xior surprised us in demonstrating its ability to grow in a
smart manner," ING analyst Francesca Ferragina writes in a note
    ** The deal is carried out through a contribution in kind
against the issue of new shares at an issue price of 29.0196
euros
    ** The new shares, representing 6.54% of the capital after
the transactions, will be placed with a subsidiary of Belgian
logistics operator Katoen Natie Group
    ** ING says the deal is "emblematic for the entrance of a
new important shareholder" that has a long-term view
    ** KBC Securities upgrades Xior to "buy" from "accumulate",
citing the acquisitions and Katoen Natie becoming a shareholder
    
  
($1 = 0.9358 euros)

 (Reporting by Gianluca Lo Nostro)
 ((gianluca.lonostro@thomsonreuters.com))