Deal announcement

Kungsleden AB announced on 29 March 2017 a fully subscribed rights issue, thereby raising gross proceeds of approximately SEK 1,638m before issue costs. In total, 98.1 percent of the rights issue was subscribed for with the exercise of subscription rights, while the company also received applications for subscription without subscription rights corresponding to approximately 132.7 percent of the total rights issue. The net proceeds from the rights issue will be used to strengthen Kungsleden’s balance sheet and enable further profitable growth with financial discipline through value-creating investments in the company’s existing property portfolio and selective complementary property acquisitions in accordance with the company’s strategy.
 

About Kungsleden

Kungsleden is a long term property-owner that provides attractive, functional premises that enrich people’s working days. We create value by owning, managing and developing offices and other commercial properties in Stockholm and Sweden’s other growth regions. A large portion of our properties belong to attractively located clusters where we also engage in the development of the whole area. Kungsleden’s goal is to deliver an attractive total return on our properties and for our shareholders. Kungsleden is listed on Nasdaq Stockholm Large Cap.

Published: 30 Mar, 2017