Pandox to evaluate conditions to carry out a directed share issue of 10 million shares.
M2 EQUITYBITES-December 15, 2017-Pandox to evaluate conditions to carry out a directed share issue of 10 million shares
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Owner of hotel properties Pandox AB (STO:PNDXB) announced on Thursday that it has given mandate to ABG Sundal Collier, DNB Markets, Handelsbanken Capital Markets and Skandinaviska Enskilda Banken to evaluate the conditions for a directed issue of not over 10,000,000 class B shares.
This directed issue will be through an accelerated book building procedure, based on the authorisation granted to the company's board of directors on the annual general meeting on 29 March 2017.
Reportedly, the company intends to use the potential proceeds to finance acquisitions and increase its financial flexibility to enable continued value creation.
According to the company, its existing shareholders, Eiendomsspar Sverige AB, Christian Sundt AB, Alecta, AMF, Handelsbanken Fonder and Swedbank Robur Fonder, have expressed their support for the share issue and the company's long-term development.
Also, Eiendomsspar Sverige AB and Christian Sundt AB have in addition expressed their interest in subscribing for shares corresponding to not more than SEK225m in total, while AMF has expressed interest in subscribing for shares corresponding to not more than SEK225m. Alecta, Handelsbanken Fonder and Swedbank Robur have further expressed interest in subscribing for shares in the share issue.
Pandox's hotel property portfolio currently comprises 122 hotels with approximately 27,000 hotel rooms in 11 countries.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Dec 15, 2017|
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