News Article funding industrial logistics VGP
by Property Forum | Industrial

VGP, a European provider of high-quality logistics and semi-industrial real estate, has successfully priced an offering of €200 million in gross proceeds by means of a private placement of new ordinary shares via an accelerated bookbuild offering to international institutional investors of 2.00 million new shares (approximately 10.8% of the company's outstanding shares on completion of the offering) at an issue price of €100.00 per share, representing a discount of 4.58% compared to the last traded price of the company’s share on 21 April 2020 of €104.8.

The company will primarily use the net proceeds from the capital increase to increase its financial purchasing power and strengthen its shareholders’ equity in order to finance the investment pipeline and to be able to benefit from additional investment opportunities

In line with their pre-commitments, Little Rock SA, controlled by Mr Jan Van Geet, and VM Invest NV, controlled by Mr Bart Van Malderen, have each subscribed for 33.81% and 20.16% of the new shares respectively and received full allocations.