NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO
Balder believes that the near-term conditions are very good for creating value-adding investments through both acquisitions and investments in existing properties. At the same time, Balder expects to begin construction of 3,500 to 4,000 apartments during the fourth quarter of 2020 and throughout 2021. In order to be able to both take advantage of such investment opportunities and at the same time maintain a good financial position and enjoy continued cost-effective financing, Balder has decided to investigate the conditions for the Issue. The reason for the deviation from the shareholders' preferential rights is to carry out the Issue in a time- and cost-effective manner, and to further diversify the shareholder base.
Many existing shareholders and new investors have expressed interest in subscribing to Class B shares in the Issue. The total number of Class B shares that may be issued and the subscription price per Class B share will be determined through the accelerated book building procedure.
The book building process will begin immediately. Pricing and allotment of the newly issued Class B shares is expected to take place before Nasdaq Stockholm opens at 09:00 on
For further information, please contact:
CEO
CFO
This is information that
Important information
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Balder in any jurisdiction, neither from Balder or anyone else.
This press release is not an offer or invitation to acquire or subscribe for shares or other securities in
This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the
In the
To the extent this press release contains forward-looking statements, such statements does not constitute facts and are characterized by words such as "shall", "expect", "believe" "assess", "intend", "estimate" and similar expressions. Such statements reflect Balder's intentions, views or present expectations or assumptions. Such forward-looking statements are based on Balder's current plans, estimates and projections, which have been made to the best of Balder's ability. However, Balder does not assert that these statements will be correct in the future. Forward-looking statements are associated with risks and uncertainties which are difficult to predict and which generally cannot be affected by Balder. It should be contemplated that actual events or outcomes may differ materially from what is included or expressed in such forward-looking statements.
INFORMATION TO DISTRIBUTORS
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the new shares in the Issue have been subject to a product approval process, which has determined that the these shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "Target Market Assessment"). Notwithstanding the Target Market Assessment, distributors should note that: the price of the shares may decline and investors could lose all or part of their investment; the shares offer no guaranteed income and no capital protection; and an investment in the shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Issue. Furthermore, it is noted that, notwithstanding the Target Market Assessment,
For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares.
Each distributor is responsible for undertaking its own Target Market Assessment in respect of the shares and determining appropriate distribution channels.
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https://news.cision.com/fastighets-ab-balder/r/balder-explores-the-conditions-for-conducting-a-directed-share-issue-of-class-b-shares,c3242143
https://mb.cision.com/Main/528/3242143/1338853.pdf
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