...Aareal Holding successfully completes pre-placement of new shares
THE INFORMATION CONTAINED IN THIS DOCUMENT MUST NOT BE RELEASED, PUBLISHED OR DISTRIBUTED, WHETHER DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.
Within the framework of the capital increase resolved by Aareal Bank AG on 14 April 2011, today the syndicate of underwriting banks successfully completed the pre-placement of new shares worth € 102.3 million on behalf of Aareal Holding Verwaltungsgesellschaft mbH ("Aareal Holding"). The new shares were placed with institutional investors, at a price of € 20.50 per share, by way of a private placement in Germany and other countries outside the US.
The purpose of the pre-placement was to prepare a so-called 'opération blanche' to be executed by Aareal Holding. In this context, the syndicate of underwriting banks placed a part of the new shares that Aareal Holding is entitled to with institutional investors, thus enabling Aareal Holding to use the net proceeds obtained from this placement to subscribe to new shares itself, without investing additional funds.
Aareal Holding will continue to hold a 28.9% stake in Aareal Bank AG's issued share capital after the placement and capital increase have been completed.
