Eurobank Properties EGM seeks approval for rights issue
03 September 2007
Eurobank Properties holds an EGM today, seeking approval for a rights issue in favour of existing shareholders. The issue will be in the order of €350m (the terms of the issue not announced yet). Eurobank Properties intends to invest the proceeds within 24 months after the completion of the rights issue.
The company’s two largest shareholders (EFG Eurobank Ergasias and Lamda Development) controlling a combined 65% stake, have committed to retain their stake for the whole period up to the completion of the rights issue and for 6 months after the trading debut of the new shares. The company’s BoD proposes that the rights issue price may exceed the stock’s price on the record date.
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