Quabit completes its 63 million euro capital increase with excess demand
Almost 62 million euros, over 98% of the total, correspondes to the Preferential Subscription tranche.
Madrid. May 17th, 2018. – Quabit has successfully completed its 63 million euros capital increase with excess demand. Following the conclusion of the Preferential Subscription Period and the application for Additional Shares (first round) the capital increase was fully subscribed.
To date subscription orders have been received well in excess of the total increase value, with almost 62 million euros, over 98% of the total, corresponding to the Preferential Subscription tranche.
At present the assignment of shares for the Assignment of Additional Shares period is bear completion in which requests have been received in the sum of over 53 million euros, requiring limitation due to pro rata of just over one million euros. This second round is scheduled to conclude tomorrow 18 May.
As the capital increase has been completed with excess demand, no Discretional Assignment Period is required.
“The capital increase was a great success“, underlines the President of Quabit, Félix Abánades–. Many thanks to all the shareholders and investors for their support, which will doubtless help us to continue to grow. As we stated during the roadshows we have held over recent weeks, we are on top and will continue to go further.”
The President added that this “excellent result confirms the markets’ trust in Quabit and is a strong endorsement of our growth strategy. It is also a great responsibility, as our objective is to reposition ourselves as one of the leading figures in the development business in Spain and to use this to generate value for all our shareholders. We are achieving this by means of an intense effort with a highly active investment policy, putting new residential projects on the market and forging ahead with those already in progress”.