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It appears in a press release from Balder, whose B share closed at SEK 475.60 on Monday. Therefore, the discount was 4.75 percent.
Underwriters to the issue are “a large number” of Swedish and international institutional investors, the company writes. The new issuance of shares carries a dilution effect of approximately 3.6 percent in relation to the number of shares.
“Balder believes that conditions in the near future are very good for creating value-added investments through acquisitions and investments in existing properties,” Balder wrote as justification in Monday’s advance notice.
At the same time, Balder expects to begin construction of 3,500 to 4,000 apartments during the fourth quarter of 2020 and in 2021. In order to take advantage of these investment opportunities while maintaining a good financial position and enjoying ongoing and effective financing , Balder has decided to investigate the conditions for the New Issue ”, continued the company.
