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Dimand: Towards a completely successful completion of the public offering

By Eleni Bota

According to the data so far, Dimand’s public registration, which has been running since June 26 and ends tomorrow, Friday, July 1, is considered successful.

According to information, it is estimated that the final demand will exceed 150 million euros, while the green shoe (option to buy as 931,800 existing shares owned by the current common shareholders) has also been oversubscribed.

Reports indicate that Dimand’s public offering has been “embraced” by the entire business community, which is evidenced by the significant amounts invested in it.

It is recalled that the range of the offering price has been set between 10.7 and 15 euros per share. The final offering price will be determined based on the offers submitted by the Special Investors within the range. The sale price of the shares to staff will be 10% lower than the price in the public offering.

Earlier, in a report entitled “Who and why invest in DIMAND – The next projects of the company“, Capital.gr reported:

Sensation in the market caused the Latsco investment scheme of Marianna Latsi and the investment fund Orasis of George Eliot have committed to acquire shares worth 15 million and 10 million euros of DIMAND, respectively, in the context of the public offering which expires on Friday.

According to information, what made these large investors acquire a significant percentage of its share capital is, on the one hand, the company’s large portfolio of projects (it has 23 projects in different stages of development with a gradual completion horizon until 2025) as well as the fact that it has her “drawer” and other important projects.

This fact was also confirmed by DIMAND CEO Dimitris Andriopoulos, who, speaking yesterday at a small event at the AX, said that after the company’s entry into the Stock Exchange, it will announce 7 to 8 new projects, which will further strengthen its pipeline.

After all, responding to representatives of the press last Monday, he said that “the company, in addition to the 23 known real estate development projects, which equal investments of approximately 1 billion euros, for the majority of which there is a specific disinvestment horizon, is setting up already a new generation of works”. “We are not interested in presenting turnover but profits”, said Mr. Andriopoulos.

And the reasons do not end here, as according to information what has “attracted” the investment funds is the fact that DIMAND is a company that operates purely in the developer sector and this offers institutional investors another opportunity to invest in real estate .

It is also a company with a clear strategy that supports a Pipeline of significant size with secured projects, while its intention is to implement agreements that withstand time and this is something that the institutional community has appreciated.

In addition, historically the company has developed the ability to find new opportunities and invest in projects that improve the lives of users and upgrade the areas around them, while it has cooperation with important institutional investors in the context of the implementation of large projects, such as the European Bank for Reconstruction and Development (EBRD) as well as large multinational companies.

Finally, it is a company that has historically achieved significant growth rates and is a pioneer in green development, while the fact that it has put its signature on a series of iconic projects (that it has carried out or is carrying out) should not be overlooked, including the Tower of Piraeus , the former tobacco factory of the Papastratos company in Agios Dionysios Piraeus, the former “MINION” department store, the first green hotel in Greece under the Moxy brand of Marriott International, the building of the AGEMAR company, interests of the Angelikousis family and the new stadium of AEK.

According to information from fund managers and representatives of family offices as well as institutional investors and brokers, a number of investors have expressed interest in increasing DIMAND’s share capital, while in recent days the company’s management has made dozens of updates to investors.

Stock market circles reported at Capital.gr that yesterday (29/6) the AMK of DIMAND was already covered once.

Source: Capital

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