December 15, 2017 / 7:24 AM / a year ago

BRIEF-Grounds Real Estate Development Closes 1st Phase Of Private Placement In Germany

Dec 15 (Reuters) - THE GROUNDS REAL ESTATE DEVELOPMENT AG :

* SAID ON THURSDAY CLOSING OF THE 1ST PHASE OF THE PRIVATE PLACEMENT IN GERMANY

* OF THE TOTAL OF 5.1 MLN NEW SHARES AT A PRICE OF EUR 2.20/SHR, A TOTAL OF 43.3% AND 2.2 MLN NEW SHARES WERE SUBSCRIBED FOLLOWING THE COMPLETION OF THE PRIVATE PLACEMENT IN GERMANY

* GROSS ISSUE PROCEEDS OF EUR 4.9 MLN

* REMAINING UP TO 2.9 MLN NEW SHARES WILL NOW BE OFFERED TO INSTITUTIONAL INVESTORS IN SOUTH AFRICA AFTER THE END OF THE LOCAL SUMMER HOLIDAYS AFTER MID-JANUARY 2018

* AFTER COMPLETE PLACEMENT, SHARE CAPITAL WOULD INCREASE FROM CURRENTLY EUR 12.9 MLN BY EUR 5.1 MLN TO A TOTAL OF EUR 18.0 MLN Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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