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20 June 2012
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Deutsche Euroshop in E123m rights issue, to finance Berlin mall
Hamburg-based listed retail mall investor Deutsche EuroShop is making a rights issue of up to 6.3m common shares, 16.7% of current registered capital, at 1:6 at a subscription price of E19.50. If fully taken up, this will bring in around E123m. Its share was last trading at E23.80. The company aims to use net proceeds primarily to finance acquisition of the A10 Center in Wildau near Berlin, bought recently out of a liquidation. Investment volume for modernisation and expansion is planned at e265m. (See upcoming PIE/PFE editions for full story)