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Real estate fund to raise 65 million euros
The real estate fund NEXPONOR promoted by the Associação Empresarial de Portugal (AEP), the Portuguese Entrepreneurial Association, with assets from Exponor, will be admitted to listing on NYSE Alternext on 3 June 2013 with over 65 million euros raised, thus becoming the largest operation registered this year on NYSE Euronext’s market designed for SMEs with more flexible listing requirements.
The public offering of the NEXPONOR fund successfully ended on 19 April 2013, raising 65.2 million euros corresponding to approximately 94% of the public offering or 13.049.240 shares.
The admission and issue price of NEXPONOR was set at 5 euros per share.
The fund will be managed by FundBox, and has the following shareholders: AEP, Banif, BES, BPI, CCCAM, CGD, Efisa, Fundação AEP, Millennium BCP, Montepio and Parvalorem.
“Given the hard times our country is experiencing, especially at the economic and financial levels, we believe that the listing of NEXPONORon NYSE Alternext, as well as the reasons that led to its admission, allow us to point out several aspects which may be inspirational to a wide range of Portuguese companies. I would like to stress the willingness and example of AEP, the commitment of the financial institutions and the capital markets as a financing resource, particularly the stock market, all of which support this new stage which we hope will be very successful”, stated Luís Laginha de Sousa, CEO of NYSE Euronext Lisbon.
“The admission of NEXPONOR to NYSE Alternext should motivate Portuguese SMEs to consider this market as a real alternative financing source. This operation is also innovative in that it is the first SICAFI set up in accordance with Portuguese law. Given the share price in the primary market, NEXPONOR becomes one of the largest listed company on NYSE Alternext”, said Miguel Geraldes, Director of Markets of NYSE Euronext Lisbon.
“The creation of the NEXPONOR fund and its admission to NYSE Alternext will be part of the history of AEP and of the capital markets in Portugal. In addition to providing a virtuous solution to a problem, we have opened doors to other Portuguese companies which now find in the market interesting financing alternatives to bank credit”, stated José António Barros, President of AEP-Associação Empresarial de Portugal.
With this operation NYSE Alternext Lisbon has now a total of two issuers, following last year’s listing of ISA, of José Basílio Simões, through a private operation raising 7.5 million euros. Presently, NYSE Alternext has more than 180 listed companies with an average market capitalisation of 35 million euros.
