Firm advises Quatar on listing of Coima Res
COIMA RES has announced the launch of its Initial Public Offering with admission to trading on the Electronic Share Market (MTA) of the Italian Stock Exchange. The listing of the REIT (Real Estate Investment Trust) which is led by Manfredi Catella, will see the involvement of Qatar Investment Authority (QIA), and is being advised on by the following firms: Gianni Origoni Grippo Cappelli, Chiomenti, Shearman & Sterling, Clifford Chance and Maisto. The tax aspects for Qatar Holding are being advised on by Tremonti Vitali Romagnoli Piccardi, with their team led by Fabrizio Colombo and Stefania Trezzini.
The Global Offering consists of a minimum 30,000,000 new ordinary shares, with the possibility to further increase this amount of new ordinary shares. The Public Offering consists of 3,000,000 shares offered to the general public in Italy, and an Institutional Offering of 27,000,000 shares. The 30,000,000 share offering is pursuant to a capital increase of a maximum of 60,000,000 shares resolved upon at the Company’s Extraordinary Shareholders’ Meeting of September 14, 2015.
The company will also grant, in agreement with Citigroup and Mediobanca, an option to borrow up to 3,000,000 Shares representing 10% of the shares offered in the Global Offering, for the purpose of covering over-allotments in the Institutional Offering. A ‘Greenshoe option’ is also provided for, to purchase up to a maximum of 3,000,000 shares, in case of over-allotment.
The offer will close on 1st April next, unless such period is extended or closed early. The Institutional Offering is also expected to close on the 1st April. Qatar Holding will contribute in kind 96 properties, the majority of such being bank branches leased to the Deutsche Bank group, in exchange for 14.45 million shares at the Offer Price (in addition to the Global offering).
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