WOOD & Company successfully completed Warimpex share capital increase under difficult market conditions
14.05.2010
WOOD & Company acted as lead manager and bookrunner in the Warimpex share capital increase, raising 28.8 million euro for the company in an extremely challenging market environment.
Prague, May 14, 2010
WOOD & Company, the leading investment bank in Central and Eastern Europe, is proud to have served as the Lead Manager and Bookrunner in the placement of 14.4 million new shares, corresponding to approximately 27 % of the post-transaction share capital of Warimpex, the central European developer, through a secondary offering at the Vienna and Warsaw stock exchanges. Despite the massive turbulence on global markets where a number of transactions were postponed or cancelled, the placement brought in 28.8 million euro and was nearly one time oversubscribed with heavy interest coming from Polish institutional investors. Raiffeisen Centrobank acted as Co-Lead Manager and Co-Bookrunner.
“This transaction proves that investors are willing to delve into the markets even during these stormy times provided they are presented with an attractive opportunity,” said Vladimír Jaroš, partner at WOOD & Company. “I am extremely pleased that we were able to foster this transaction and help fulfill Warimpex’s needs while providing the investment community with real value,” he added.
The price for a single share was set at 2 euro after a bookbuilding process. The available backstop option for 50% of the deal was not exercised. Shares were placed through a rights offering to existing shareholders and a global offering consisting of a public offering in Poland and a private placement to selected qualified institutional investors outside Poland and the United States. “The coordination of the different placement channels went smoothly and we achieved a fantastic result in terms of the resulting share price,” Jaroš said.
The company now has 45 % of its shares in free float, which will improve liquidity. The new shares are expected to begin trading on the Vienna and Warsaw main exchanges on May 14.
WOOD & Company is an independent investment bank focused on the emerging capital markets of Central and Eastern Europe. Core services include capital markets, investment banking and asset management. WOOD & Company has membership of eleven exchanges across the region and offers clients the ability to trade on all these markets. The company’s aim is to be the best financial services provider in the region by offering its clients the firm’s breadth of regional experience, capabilities, and financial resources.
Warimpex is a real estate development and investment company with headquarters in Vienna and offices in Budapest, Prague, St. Petersburg and Warsaw. Warimpex currently owns or co-owns 21 business and luxury hotels with more than 5,000 rooms as well as five commercial and office buildings with a total floor space of approximately 32,000 m² mainly in Central and Eastern Europe. Warimpex is listed under WXF on the Vienna and Warsaw Stock Exchanges.
Please do not hesitate to contact us for further information:
David Šimoník, Media Representative of WOOD & Company
Tel.: +420 774 280 831
E-mail: david.simonik
relativepr.cz
Prague, May 14, 2010
WOOD & Company, the leading investment bank in Central and Eastern Europe, is proud to have served as the Lead Manager and Bookrunner in the placement of 14.4 million new shares, corresponding to approximately 27 % of the post-transaction share capital of Warimpex, the central European developer, through a secondary offering at the Vienna and Warsaw stock exchanges. Despite the massive turbulence on global markets where a number of transactions were postponed or cancelled, the placement brought in 28.8 million euro and was nearly one time oversubscribed with heavy interest coming from Polish institutional investors. Raiffeisen Centrobank acted as Co-Lead Manager and Co-Bookrunner.
“This transaction proves that investors are willing to delve into the markets even during these stormy times provided they are presented with an attractive opportunity,” said Vladimír Jaroš, partner at WOOD & Company. “I am extremely pleased that we were able to foster this transaction and help fulfill Warimpex’s needs while providing the investment community with real value,” he added.
The price for a single share was set at 2 euro after a bookbuilding process. The available backstop option for 50% of the deal was not exercised. Shares were placed through a rights offering to existing shareholders and a global offering consisting of a public offering in Poland and a private placement to selected qualified institutional investors outside Poland and the United States. “The coordination of the different placement channels went smoothly and we achieved a fantastic result in terms of the resulting share price,” Jaroš said.
The company now has 45 % of its shares in free float, which will improve liquidity. The new shares are expected to begin trading on the Vienna and Warsaw main exchanges on May 14.
WOOD & Company is an independent investment bank focused on the emerging capital markets of Central and Eastern Europe. Core services include capital markets, investment banking and asset management. WOOD & Company has membership of eleven exchanges across the region and offers clients the ability to trade on all these markets. The company’s aim is to be the best financial services provider in the region by offering its clients the firm’s breadth of regional experience, capabilities, and financial resources.
Warimpex is a real estate development and investment company with headquarters in Vienna and offices in Budapest, Prague, St. Petersburg and Warsaw. Warimpex currently owns or co-owns 21 business and luxury hotels with more than 5,000 rooms as well as five commercial and office buildings with a total floor space of approximately 32,000 m² mainly in Central and Eastern Europe. Warimpex is listed under WXF on the Vienna and Warsaw Stock Exchanges.
Please do not hesitate to contact us for further information:
David Šimoník, Media Representative of WOOD & Company
Tel.: +420 774 280 831
E-mail: david.simonik
relativepr.cz
