Swedish property firm Sagax mulls $185 million share issue, Real Estate News, ET RealEstate

June 23, 2023

OSLO: Swedish commercial real estate investor Sagax has hired bankers to explore conditions to raise 2 billion crowns ($185 million) in a common share issue, it said on Tuesday.

The company said it assesses that the current market environment could present attractive investment opportunities, while it is committed to maintaining a conservative capital structure and strong liquidity position.

“It is the Board of Directors’ assessment that the Share issue would lead to higher profit from property management, cash flow and net asset value per share after the proceeds from the Share issue have been invested,” Sagax said in a statement.

Sagax has mandated Sundal Collier AB and J.P. Morgan to act as joint book runners. Pricing and allocation would, in case the share issue goes ahead, take place before on June 21.

  • Published On Jun 21, 2023 at 06:00 PM IST

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