Dimand completes a successful IPO raising c.€98M
The total valid demand expressed by investors who participated in the Public Offer amounted to 8,873,423 shares.
Dimand Real Estate is having its initial public offering being concluded today as part of the process for its listing in the Athens Stock Exchange.
According to the announcement issued by Alpha Bank and Eurobank (Coordinators Main Underwriters and Issuance Advisors) for the listing of all Dimand common shares on the Regulated Market of the Athens Stock Exchange, after the completion of the Public Offer on 07.01.2022 and the decision from 07.01.2022 of the company's Board of Directors were allocated a total of:
(a) 6,538,100 new ordinary registered shares of the company including 38,183 new ordinary registered shares, which were made available with a parallel offering to a limited circle of persons, in accordance with EC decision No. 4/379/18.4.2006) and
(b) 931,800 existing common registered shares (by virtue of the overallotment clause).
The total valid demand expressed by investors who participated in the Public Offer amounted to 8,873,423 shares, of which 8,693,165 shares were in demand at €15.00 per share, i.e. an amount of €130.4 million.
As it has already been known from Dimand's prospectus, of the net funds raised (c.€93m.), €28m will be allocated to finance existing projects, €14m for new projects and approximately €51m for repayment of the loan which mainly refers to financing by H.I.G.
The company runs an investment program which concerns the development of iconic properties including the MINION building in the center of Athens and the old FIX factory complex in Thessaloniki.