As it says in its announcement, the Capital Market Commission has decided "to approve the content of the prospectus of the company "TRADE ESTATES ANONIME EITERIA AKINITIS PROIOUSSIAS" for the public offering of new ordinary, registered, voting shares with payment of cash and cancellation of the pre-emptive right of old shareholders and the listing for trading on the Regulated Market of the Athens Stock Exchange of all the company's shares".
The Company is a subsidiary of the company FOURLIS ANONYMI ETAIREIA HOLDINGS which directly owns 28.72% and indirectly, through its subsidiaries, 55.21% of its share capital (total shareholding 83.93%).
01.11.2023 Begging of public offer
03.11.2023 End of public offer - investor registration Announcement of the Disposal Price
08.11.2023 Start of trading of the Company's Shares on the A.A.
Maximum Allocation Price set by the Lead Underwriters Coordinators in cooperation with the Issuer at €2.13 per New Share.
The Increase will be fully covered, i.e. with the provision of 29,107,983 New Shares, the main shareholders holding more than 5% of the share capital are not registered for New Shares with the exception of AUTOHELLAS which will participate through the private placement for the acquisition of 938,968 New Shares Shares. None of the new shareholders will acquire a percentage greater than 5% of the Company's share capital.
The total of the net proceeds of the Increase, which based on the Maximum Allocation Price amounts to €56,896,000 (minus the estimated costs of approximately €5,104,000) and will be used by the Company exclusively for the repayment of part of the price to REDS SA, concerning the Agreement for the Sale and Purchase of shares of GYALOU M.A.E. The Company intends to use the net funds raised within 6 months from the date of certification of the Increase.
In case of non-completion of the transaction regarding the Agreement for the Sale and Purchase of shares of GYALOU M.A.E. the net funds raised will be used within 36 months from the date of certification of the Increase, as follows: a. in a share capital increase in "POLIKENCO SA" and "MANTENCO SA" for the financing of own participation projects through the RRF mechanism,
b. in financing the acquisition of a property in Elliniko and
c. in partial financing of construction works of a commercial park in Elliniko.
