Kempen is pleased to announce the successful placement of €69m of treasury shares of Befimmo S.A.
Raising €69 million, Befimmo successfully completed a sale of c1.3m treasury shares
The transaction received strong interest from new and existing Long Only and Real Estate specialist investors
The total offering of 1,266,300 treasury shares via an accelerated bookbuild represents 4.48% of outstanding shares
The shares were priced at a 3.7% discount to the last price pre-market halt, indicating strong demand in line with the share price performance over the last 6 months
The proceeds of the transaction will allow management to strengthen their ongoing investment strategy and invest in accretive opportunities from an identified pipeline of c€100m of acquisitions. Simultaneously, the company will invest in the ongoing growth of its co-working solution Silversquare.
Befimmo S.A. is a Belgian REIT listed on the Brussels Stock Exchange and is being led by a fully dedicated internal management team
The company is headed up by Benoît de Blieck (CEO) and Laurent Carlier (CFO) who oversee a strategy of high-quality workspaces that are mainly located in Brussels, key Belgian cities and Luxembourg
Through Silversquare Befimmo aims to develop a network of interconnected workspaces in Belgium and Luxembourg
Kempen Real Estate credentials
Kempen has advised on Real Estate transactions in 13 different countries in Europe since 2017
This transaction underpins our #1 position in European Real Estate ECM since 2011
The deal represents Kempen’s 8th real estate ECM transaction for the year, including deals with WDP, Vonovia, Arima, Tritax Eurobox and Aedifica, totaling over €1.7 billion