Noval Property (subsidiary of the Viohalco Group) aims to raise a total of 52 million euros by listing its shares on the Athens Stock Exchange, a process which will take place at the end of the month (May 29 to May 31).
Viohalco controls, directly or indirectly, 81% of the share capital of the company, which has a portfolio with a total fair value of 582.6 million euros (including financial leases and holdings).
Noval’s investment program amounts to 340 million until 2030, with 82% of this relating to properties it owns.
The parent company’s participation
The percentage of the parent group after the capital increase with cash payment and with the abolition of the pre-emptive right in favor of the existing shareholders will be around 69%.
The maximum sale price of the new shares was set at 2.82 per share. This price is reduced by 29.1% (discount) in relation to the internal accounting value of the company on December 31, 2023 (427.4 million or 3.98 euros per share).
The capital increase will take place by issuing up to 17,388,025 new, common, registered voting shares with a nominal value of 2.50 euros each. They will be made available through a public offering to the investment public in Greece.
