Socimi Árima Closes €40M Capital Increase (20% Below the Forecast)

4 April 2019 – Europa Press

The Socimi Árima has completed an accelerated capital increase by raising €40 million, which fell 20% below the target of €50 million, according to the firm.

The operation, which targeted qualifying and institutional investors, was participated in by “certain” members of the management team, led by the former CEO of Axiare, José Luis López de Herrera-Oria.

All of them subscribed shares in the company at a price of €10 per share, equivalent to the debut price on the stock market in October, and below the closing price at the end of trading on Thursday (€10.20).

Despite having raised less than expected, López de Herrera-Oria concluded that the operation has been a success.

Original story: Europa Press

Translation/Summary: Carmel Drake

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