Galil Capital Completes a €7.9M Capital Increase

5 February 2019 – Eje Prime

Galil Capital is raising funds to continue growing its portfolio. The Socimi is going to increase its share capital by €7.9 million, compared with the figure of €8.74 million planned initially, according to a statement filed with the Alternative Investment Market (MAB).

Once the term for the preferential subscription and discretional allocation of shares has ended, Galil explained that the share capital will be increased by €6.59 million, corresponding to 658,710 new shares and to a total disbursement of €7.9 million.

The shareholders of the Socimi, controlled by the Israeli businessman Gil Avraham Shwed, approved the capital increase of up to €8.74 million last November. With this operation, promoted just one month after it raised €4.5 million in bank loans, the company is intending to finance the purchase of new assets.

Galil Capital started life in 2015 and specialises in the investment and management of properties in Madrid and Barcelona. The Socimi is led by Jerry Mandel, former CEO of Merrill Lynch, who is the founder and owner of GC Nadlan, the company that manages the real estate firm (…).

According to the latest available information, corresponding to June, Galil Capital’s portfolio comprises six assets, all of which have residential use, worth €31.36 million (…).

Original story: Eje Prime (by Marta Casado)

Translation: Carmel Drake

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