Capital News
Deutsche Annington Immobilen has announced its intention of funding its takeover of Suddetusche Wohnen (Südewo) worth 1.9 billion Euros, by increasing share capital by 107.5 million Euros to 466 million Euros. The takeover was finalised at the beginning of July. The ratio at purchase was ten to three. The purchase price of the 107,538,606 shares is 20.90 Euros, accruing a revenue of 2.25 billion Euros. The amount left over after Südewo will be used to finance loans with collateral and pay transaction expenses. The intention of Deutsche Annington is to consolidate its status as the primary residential real-estate concern in Germany obtaining some 20,000 apartments from investments close to its competitor Patrizia Immobilien. The low interest rates and the excellent state of the economy make investing in German real estate a highly attractive proposition for both German and foreign investors.
LEG Immobilien has orchestrated an increase in share capital as a means of financing the fast-track purchase of a real-estate portfolio. On June 23,the Düsseldorf-based real-estate group was successful in placing 1,196,344 shares for a total revenue of 73.6 million Euros. The stock was sold for 61.54 Euros, approximately 6 percent less than the closing price of Xetra and will have the right to a dividend for the 2015 financial year. This increase in share capital tends to water down current participation by about 2 percent. The revenue has been earmarked for the partial funding of a portfolio containing 3,500 homes. LEG has announced that it has agreed on a framework agreement for the purchase of 225 million Euros.
KTG Agrar: bolstering equity capital
Agriculture group KT Agrar AG recently raised some 7 million Euros by increasing share capital. The Entry Standard-listed company increased its share capital by placing 506.400 new bearer shares excluding the right to option at the issue price of 14.33 Euros each. The number of shares has therefore risen from 6,243,600 to 6,750,000. In so doing, the group aims to increase its quota of equity capital from 18 to more than 20 percent. With the increase in profits of last financial year – hard on the heels of the 0.7 million Euro loss KTG made a profit of some 6.4 million Euros in 2014 – the company has already taken the first step. Depending on how the AGM votes, KTG will distribute a higher dividend for the fifth time running, this year up by 0.25 Euros per share.
Bio-Gate: funding growth
By means of an increase in share capital with no right to option, Medical technology specialist Bio-Gate AG, has earned a shot in the arm of 0.6 million Euros . In the course of the private placement, the hitherto Entry Standard-listed concern supplied 430,347 fresh shares at the price of 1.40 Euros each to anchor shareholders. The capital measure augmented the company’s share capital by 430,367 Euros to approximately 4.7 million Euros. This cash has been earmarked to fund growth this current year. Bio-Gate’s microsilver technology is able to provide a microbe-free protection to both materials and surfaces. The company is currently quoted in the unofficial Frankfurt bourse.
Cewe: reliable earnings
The dividend to be paid out by Nella CeweStiftung& Co. KGaA has risen again for the sixth time in a row. According to the on-line press release of the Prime Standard-listed concern, the dividend amount has risen by 5 percent to 1.55 Euros per share. Furthermore, the company has announced that it possesses a solid base equity capital and it intends pursuing increasing profits. Of particular profitability is the photo-finish business – photographic products with ad hoc page layout such as photo books, calendars and posters. The group is forecasting a turnover for 2015 of between 515 and 535 million Euros and an operational profit of between 32 and 38 million Euros. Last year’s turnover was some 524 million Euros with an Ebit of approximately 33 million Euros.