At Trade Estates, the total valid demand at the Offer Price of €1.92 amounted to 29,484,114 shares, i.e. €56,609,498.88, exceeding the 28,169,015 new shares to be offered through the Public Offer, by approximately 1.05 times.
In particular, as stated in the relevant announcement:
THE “NATIONAL BANK OF GREECE S.A.” as Coordinating Main Underwriter and Issuance Advisor and “Piraeus Bank -2.38% SA”, “ALPHA BANK S.A.” and “EUROBANK S.A.” as Lead Underwriters of the public offering of the new common shares (the “New Shares”) of the company “TRADE ESTATES” (the “Company”) issued in the context of the increase of its share capital, through a public offering (the “Public Offering” ) and private placement, based on the exceptions of article 1 par. 4 of Regulation (EU) 2017/1129, (the “Private Placement”), by virtue of the 08.09.2023 decision of the Extraordinary General Meeting of the Company’s shareholders and the 20.10.2023 decision of its Board of Directors, (the “Increase”), announce the following:
On 03.11.2023, the Public Offer and the disposal through it of 28,169,015 New Shares of the Company were successfully completed. It is noted that the overallotment facility clause was not activated.
In addition, 938,968 New Shares were allocated through the Private Placement to the existing shareholder “AUTOHELLAS ANONYMOS TOURISTIKI KE EMPORIKI ETEIREIA”, based on his participation declaration letter dated 20.10.2023 to the Board of Directors. the company’s.
Pursuant to the 03.11.2023 decision of the Company’s Board of Directors, the disposal price of the New Shares (the “Disposal Price”) was set at €1.92 per share for the entire Public Offering (Specialist and Private Investors), as well as for the Private Placement.
The total raised funds of the Increase, before deducting the issuance costs, amount to €55,887,327.36, of which an amount of €54,084,508.80 was collected from the Public Offering (i.e. €1.92*28,169,015 New Shares) and an amount of €1,802,818.56 was raised from the Private Placement (i.e. €1.92*938,968 New Shares).
The total valid demand at the Offer Price of €1.92 amounted to 29,484,114 shares (i.e. €56,609,498.88), exceeding the 28,169,015 New Shares to be offered through the Public Offer, by approximately 1.05 times.
The total of 28,169,015 New Shares made available through the Public Offer, were distributed based on the valid demand expressed at the Offer Price, as follows:
• 12,850,541 New Shares (45.62% of the total Public Offer) to Private Investors, out of a total number of 14,165,640 shares for which a valid demand was expressed in the specific category of investors (i.e. 90.72% of the expressed demand in the specific category of investors, which concerned 3,035 applications), and
• 15,318,474 New Shares (54.38% of the total Public Offer) to Special Investors, out of a total number of 15,318,474 shares for which a valid demand was expressed in the specific category of investors (i.e. 100% of the expressed demand in the specific category was satisfied investors and in the Disposal Price, which concerned 82 applications).
Pursuant to the underwriting agreement, the Lead Underwriters, the Lead Underwriters and the Underwriters have not entered into any commitment to underwrite equity coverage. In addition, it is noted that the Coordinators Main Contractors, the Main Contractors and the Underwriters did not submit applications to participate in the Public Offer on their own behalf, with the exception of the Main Contractor “EUROXX Securities AEPEY” which submitted applications for 46,948 shares on its own account in the Public Offer and assumed equal shares.
Finally, it is noted that the issuance of 905,156 free shares in the context of the Company’s share capital increase with capitalization of distributable reserves was also completed, in accordance with what was mentioned in the Company’s Prospectus dated 24.10.2023.
In the meantime, as stated in the company’s second announcement, in case of non-completion of the transaction regarding the sale and purchase of the shares of GYALOU M.A.E. (Smart Park), since it is subject to the fulfillment of certain customary terms and conditions set by the parties, the net funds raised will be allocated until they are exhausted and in chronological order, as follows:
It is noted that on Friday, November 10, 2023, the trading of all 120,528,771 common shares of the company will begin on the ATHEX.
The stock’s trading code is “TRESTATES” in Latin font.
The initial trading price of the Company’s shares is €1.92 per share, equal to the sale price determined.