Berlin-based real estate company ESTAVIS AG successfully placed a capital increase. Heuking Kühn Lüer Wojtek legally advised the company with Dr. Thorsten Kuthe and his team. The company has been advised by Heuking Kühn Lüer Wojtek on a regular basis since 2007, most recently at the end of 2013 when issuing a five-year bond for EUR 15 million.
Within the framework of the capital increase, about 1.8 million shares at a price of EUR 2.00 per share were placed while excluding the shareholders' subscription rights. The capital increase was fully subscribed by Wecken & Cie. KG. The company will collect issuing proceeds of about EUR 3.6 million as part of the capital increase.
ESTAVIS AG is a listed real estate company focusing on residential real estate. The company selectively acquires residential portfolios for long-term management. Accentro, a subsidiary of ESTAVIS and the group's other mainstay, is the market leader in housing privatizing services in Germany. ESTAVIS AG is listed on Frankfurt Stock Exchange's Prime Standard (German securities code A0KFKB).
Counsel to ESTAVIS AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe,
Sarah Ohl (all Capital Markets), all Cologne.