Ivanhoé Cambridge to Invest Up to €150-Million in Capital Increase for Árima Real Estate

4 November 2019 – Árima Real Estate has announced a capital increase of up to 150 million euros. The Canadian real estate investment group Ivanhoé Cambridge will subscribe to the increase in its entirety, giving the firm up to a 29.9% share in the socimi.

The socimi debuted last year in the continuous market and had assets worth 175 million euros at the end of the first semester of this year.

Ivanhoé Cambridge will subscribe the shares at a maximum price of 10.4 euros, a premium of 3% compared to Friday’s closing price of 10.1 euros.

Currently, the top shareholders in Árima are the Bank of Montreal (10.4%), the Pelham fund (9.9%) and UBS (9.8%).

Original Story: Cinco Dias – A. Simón

Adaptation/Translation: Richard D. K. Turner

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