By Dominic Chopping
STOCKHOLM--Swedish residential real-estate company Heimstaden AB said Monday that it has raised 1.125 billion Swedish kronor (135.8 million) through a rights issue of preference shares and a directed issue of additional preference shares to meet high subscription demand.
The company said 10.8 million preference shares were issued in the rights issue, while 0.9 million share were issued without subscription rights, raising SEK375 million in total.
As interest in subscribing for preference shares without subscription rights significantly exceeded the number of shares available, the company resolved on a directed issue of 23.4 million preference shares at SEK32 each, the same subscription price as in the rights issue, raising SEK750 million.
Proceeds from the issues will be used to maintain a balanced financial risk profile, raise capital for further expansion and support improved liquidity in the preference shares, it said.
Write to Dominic Chopping at dominic.chopping@wsj.com
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June 07, 2021 at 01:07PM
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