Following its dual listing on Euronext Amsterdam on 11 April 2018, Retail Estates launched a public capital increase in cash with irreducible allocation rights for its existing shareholders on 12 April 2018, to reduce its financial debt and to finance announced and new real estate investments. Retail Estates is a public regulated real estate company ("BE-REIT") specialising in peripheral retail property and retail parks, with a strong presence in Belgium as well as a fast-growing presence in the Netherlands.
During the subscription period with irreducible allocation rights, 1,669,426 of the total of 1,897,932 offered new shares (or 87.96%) were subscribed. The 228,506 remaining offered new shares were sold in the form of scrips through an exempt accelerated private placement. This transaction allowed Retail Estates to raise approximately EUR 123 million, the envisaged maximum amount of the capital increase.
Eubelius advised Retail Estates on the realisation of this successful capital increase. The team members involved in this transaction are Lars Van Bever, Tim Van Moorhem, and Anthony Van Besien.