Deutsche Wohnen AG (DWHHF.PK) said it resolved on a capital increase in the amount of 10% of the current share capital against cash contributions and under exclusion of shareholders’ subscription rights.
The company noted that its share capital will be increased from EUR 146.14 million to EUR 160.76 million, through the exercise of part of the new authorized capital in the amount of EUR 14,614,285, which was resolved upon by the shareholders’ meeting on December 4, 2012.
For this purpose, 14.61 million new no-par value ordinary bearer shares will be issued by the company. The new shares carry full dividend rights as of January 1, 2012, the company said.
The proceeds from the last two capital increases in November 2011 and June 2012, amounting to approximately EUR 620 million in total, were invested almost entirely over the course of the year as a result of the acquisitions in Dusseldorf, of the BauBeCon portfolio, as well as additional acquisitions in the greater Berlin area and of another portfolio comprised of about 5,100 residential units, the company said.
Furthermore, additional acquisitions in Berlin were signed by the end of 2012.
The company said it intends to use the net proceeds of this offering to finance its recently signed transactions and selective future acquisitions, as well as for general corporate purposes.
The company confirmed its FFO guidance for the full financial year 2012 of at least EUR 65 million (without disposals). Given the most recent acquisitions, the company expects a recurring FFO (without disposals) of approximately EUR 100 million, after taxes, for the current financial year 2013.
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by RTT Staff Writer
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