PRODEA successfully completes public offer, 112% oversubscribed

According to the REIC’s announcement, the Voluntary Public Offer sought to acquire up to 50,000 bonds, with a total nominal value of €50 million, in exchange for newly issued Prodea shares at an exchange ratio of one bond for 200 new shares.

At the close of the acceptance period, bondholders had tendered 56,013 bonds, representing a nominal value of €56.013 million, resulting in an oversubscription rate of approximately 112%.

Following the successful completion of the Voluntary Public Offer, PRODEA is expected to issue 10 million new shares, increasing the company’s free float to approximately 17%.

PRODEA Investments thanked the bondholders who participated in the offer, highlighting their confidence in the company and its long-term prospects.

AXIA Ventures Group and Piraeus Bank acted as financial advisers to PRODEA in connection with the transaction, while Karatzas & Partners Law Firm served as legal counsel to the company and the transaction.