DGAP-News: KWG Kommunale Wohnen AG: KWG resolves cash capital increase to fund further growth
(firmenpresse) - DGAP-News: KWG Kommunale Wohnen AG / Key word(s): Capital Increase
KWG Kommunale Wohnen AG: KWG resolves cash capital increase to fund
further growth
15.03.2012 / 07:45
---------------------------------------------------------------------
Hamburg, 15. March 2012 - After its recently announced transaction that was
the largest in its history and looking back to a successful fiscal year
2011, KWG Kommunale Wohnen AG, the German long-term oriented German
property holding company, plans to increase its share capital against cash
to fund further planned steps in growth.
As announced today in the Electronic German Federal Gazette
(,elektronischer Bundesanzeiger') the Board of Management of KWG Kommunale
Wohnen AG has resolved with the approval of the Supervisory Board to
increase the company's share capital to up to EUR 14,381,234.00, divided
into as many notional no-par value shares, by issuing up to 3,576,505
notional no-par value shares from its existing authorised capital.
Shareholders of the company may subscribe to new shares at a 3:1 ratio,
i.e. for every 3 shares held 1 new share may be subscribed. An
over-allotment option to shareholders interested in exceeding their
subscription rights has been granted, however, subscription rights will not
be traded.
The subscription period runs from 16 March 2012 until 30 March 2012 (18:00
Uhr CET). The subscription price will be determined by means of a
bookbuilding process and will not exceed EUR 5.50. The subscription price
will be fixed on 27 March 2012. Following the subscription period shares
that have not been subscribed to will be offered for subscription to
interested institutional investors in the course of a Private Placement.
biw Bank für Investments und Wertpapiere AG, its tied agent Silvia Quandt&Cie. AG and ACON Actienbank AG will serve as Joint-Lead Managers and
Co-Bookrunners while LFG Kronos Investment Services GmbH will serve as
Selling Agent. biw Bank für Investments und Wertpapiere AG will facilitate
the the clearing of the rights offer.
By funds generated through the capital increase KWG Kommunale Wohnen AG
plans to finance its accelerated growth as it plans to capitalise on
existing opportunities in the market to strengthen its sustainable
profitability and pave the way to its ability to pay its shareholders a
dividend. Acquisitions are considered an integral part of its planned
expansion.
About KWG Kommunale Wohnen AG
KWG Kommunale Wohnen AG is a long-term oriented owner and operator of
German residential real estate units. The company acquires residential real
estate portfolios at attractive conditions in promising micro-locations of
metropolitan regions and German regional centres and sustainably increases
their value through an active real estate asset management. By
refurbishments to high energy efficiency standards incidental costs for
tenants are being lowered. KWG AG covers the complete value chain from
acquisitions to construction management and its own internal property
management. As a result vacancies are being reduced and income from net
cold rent is being increased. This leads to value enhancements of the
properties, above average Returns on Equity and profitability. KWG's
portfolio post the transaction amounts to 6,800 units. KWG's shares are
listed in the Entry Standard of the Frankfurt Stock Exchange.
Contact
KWG Kommunale Wohnen AG
Jan Hutterer, Head of Investor Relations
Alstertor 9
20095 Hamburg
Tel.: +49- 40- 2263088-100
eMail: ir(at)kwg-ag.de
www.kwg-ag.de
End of Corporate News
---------------------------------------------------------------------
15.03.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: KWG Kommunale Wohnen AG
Alstertor 9
20095 Hamburg
Germany
Phone: 040 22 63 088 100
Fax: 040 22 63 088 200
E-mail: ir(at)kwg-ag.de
Internet: www.kwg-ag.de
ISIN: DE0005227342
WKN: 522734
Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market
(Entry Standard) in Frankfurt
End of News DGAP News-Service
---------------------------------------------------------------------
160688 15.03.2012
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: EquityStory
" alt="Riverstone Intersects New Higher Gold Grade Zone at the Kao Deposit
Datum: 15.03.2012 - 07:45 Uhr
Sprache: Deutsch
News-ID 125025
Anzahl Zeichen: 7005
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 221 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: KWG Kommunale Wohnen AG: KWG resolves cash capital increase to fund further growth"
steht unter der journalistisch-redaktionellen Verantwortung von
KWG Kommunale Wohnen AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
