KWG Kommunale Wohnen AG has completed its previously announced capital increase. The company placed a total of 1.6 million new shares at a price of EUR 6.50 per share. The shares were acquired both by previous shareholders using their subscription right and by investors who subscribed to the shares during a subsequent private placement. As a result of the capital increase, the company's share capital now totals EUR 6.1 million; the number of shares is 6.1 million.
The capital increase has provided the company with gross proceeds of EUR 10.4 million, which are earmarked for the further acquisition of apartments. Promising negotiations are already underway.
Stavros Efremidis, a member of the Management Board of KWG Kommunale Wohnen AG, commented: 'The fact that we were able to raise EUR 10.4 million of fresh capital – despite the difficult stock market environment for real estate shares – shows that investors are fully convinced of our company's business model.'
The capital increase has provided the company with gross proceeds of EUR 10.4 million, which are earmarked for the further acquisition of apartments. Promising negotiations are already underway.
Stavros Efremidis, a member of the Management Board of KWG Kommunale Wohnen AG, commented: 'The fact that we were able to raise EUR 10.4 million of fresh capital – despite the difficult stock market environment for real estate shares – shows that investors are fully convinced of our company's business model.'
