Treveria plans private placement of shares for up to €300 million

By Laura Lutz

Des Moines, Nov. 13 - Dawnay, Day Treveria plc intends to raise up to €300 million and at least €250 million through a private placement of shares.

The placing price will be announced following an institutional bookbuild that is expected to be completed on Nov. 17.

The company expects up to settle 205 million of the shares, the initial placing shares, on Nov. 23. The remaining shares will be issued on Nov. 30, following shareholder approval at an extraordinary general meeting.

Citgroup Global Markets Ltd., as stabilizing manager, will receive an over-allotment option for 10% of the initial placing shares and 15% of the remaining shares.

Proceeds will be used for acquisitions.

Citigroup, Deutsche Bank and JPMorgan Cazenove will act as joint global coordinators, joint financial advisers and joint bookrunners in connection with the deal.

Based in Douglas, Isle of Man, Treveria is a property investment company that invests in German commercial real estate.

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