Merlin Properties has increased its capital by \u20ac920.7 million by issuing nearly 94 million shares at a price of \u20ac9.8 per share, representing a 4.67% discount compared to the closing price of its shares yesterday, which was \u20ac10.28, as reported early this morning to the National Securities Market Commission (CNMV). The REIT (Real Estate Investment Trust) relied on Santander and Nortia for this move, which will serve to finance its expansion into a new business line within its portfolio: data centers. The transaction represents an increase of around 20% in its capital, and the market reacted to the stock at the opening with drops close to 2%, making it the worst performer on the Ibex.<\/p>\n
The final capital increase also falls slightly below the \u20ac966 million target that had been set yesterday afternoon. Ultimately, Banco Santander and Nortia Capital Investment Holding, which directly or indirectly hold approximately 24.58% and 8.17% of Merlin’s share capital, respectively, have subscribed for 23,094,534 and 7,674,216 new shares, respectively, in the capital increase, thereby maintaining their stakes at the same percentages.<\/p>\n
Likewise, the company’s CEO and founder, Ismael Clemente, owner of approximately 0.14% of the share capital, as well as Miguel Ollero Barrera, board member, corporate general manager, and founder, owner of approximately 0.13% of the share capital, have subscribed for 131,893 and 124,392 new shares, respectively. Just like the banks, both maintain their percentages following the capital increase, Merlin emphasized in the information sent to the regulator.<\/p>\n
Banco Santander, Nortia, Clemente, and Ollero have entered into a 90-day lock-up agreement starting from the date of execution and closing of the capital increase, subject to customary market exceptions for this type of transaction. Merlin plans to execute the corresponding public deed for the capital increase today, and the new shares are expected to be admitted to trading on the Barcelona, Bilbao, Madrid, and Valencia stock exchanges today, in order to begin trading tomorrow, Thursday, July 25.<\/p>\n
Additionally, following the admission of the new shares on the Spanish Stock Exchanges, they are scheduled to be admitted to trading on the Euronext Lisbon regulated market. “Settlement of the stock market transaction regarding the delivery of the new shares to investors is expected to take place on or around July 26, 2024,” Merlin reported in its statement.<\/p>\n
Goldman Sachs Bank Europe and Morgan Stanley Europe are acting as joint global coordinators and bookrunners for the capital increase, while Banco Santander, BofA Securities Europe, Deutsche Bank Aktiengesellschaft, and J.P. Morgan are also acting as joint global coordinators. BBVA (in collaboration with ODDO BHF), Barclays Bank Ireland, BNP PARIBAS, CaixaBank, Citigroup Global Markets Europe, Cr\u00e9dit Agricole Corporate and Investment Bank, Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, UBS Europe, and Van Lanschot Kempen are acting as joint bookrunners.<\/p>\n
Finally, Banco de Sabadell, Bankinter, Intesa Sanpaolo, Natixis, and SMBC Bank are acting as co-bookrunners, while Alantra Capital Markets, Norbolsa, and Unicaja Banco are acting as co-lead managers.<\/p>\n","protected":false},"featured_media":1604,"template":"","class_list":["post-1706","sala-de-prensa","type-sala-de-prensa","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\n