Investment company Immorente Invest announced Tuesday that it has successfully closed its 408 million dirham capital increase.
According to the data communicated by the company, the demand during this operation exceeded 682.67 million dirham, a satisfaction rate of 59.76% (ratio between the number of shares allocated and the number of shares requested). The number of subscribers who participated in the operation reached 756 from 12 regions and 6 different nationalities.
By investor category, institutional investors subscribed for 528 million dirham (104 subscribers with a demand satisfaction rate of 61.93%), legal persons for 29.43 million dirham (satisfaction rate of 47.13%) and individuals for 125.24 million dirham (630 subscribers with a satisfaction rate of 53.60%).
This capital increase is made by removing preferential subscription rights reserved for shareholders in favor of the public with the aim of “aligning and putting new and old shareholders on the same footing as a new stock market listing,” said Soumaya Tazi, Chairman and CEO of the company, when presenting the transaction on January 10.
The property company aims, through this capital increase, to finance its investments which will allow it to continue its growth and the diversification of its asset portfolio, to allow investors, institutional and the general public, to access or strengthen their position in an asset class dedicated to professional rental real estate, to pursue and reinforce the logic of transparency and performance in which the company subscribes by submitting to market judgment as well as to pursue the constitution of the target portfolio by continuing to invest in identified and unidentified opportunities.