December 1, 2023 10:46 am

Sato, a housing investment company, is planning to issue shares worth up to 200 million euros in order to strengthen its equity ratio and gain more financing options. This move has been supported by the company’s largest shareholder, Balder Finland Otas AB. The share issue will be announced on Monday at an extraordinary general meeting where the board will be authorized to decide on the issuance of new shares.

Sato’s current shareholders have subscription rights to collect gross assets of up to 200 million euros. The proposal to the general meeting states that the number of shares to be issued under the authorization would be a maximum of 56,700,000 shares, equivalent to about one hundred percent of all the company’s shares. However, this condition depends on whether the proposed authorization is granted by shareholders at the general meeting, which will take place on December 11.

If approved by shareholders, the offering is scheduled to be completed by the end of February 2024, depending on market conditions. It is important for Sato to gain more funding options as it continues its operations in Europe and expands its portfolio. With a stronger equity ratio, Sato will have access to more financing options and potentially higher returns for its investors.

Leave a Reply