Aedifica

Accelerated Bookbuild Offering

Kempen & Co acted as Joint Global Coordinator and Joint Bookrunner in the €254 million Accelerated Bookbuild Offering of Aedifica

Private placement by way of an accelerated book building of 2,925,000 new shares, corresponding to 8.0% of the company’s outstanding capital prior to the capital increase, with international institutional investors and at an issue price of €87.00 per share, generating gross proceeds of €254.5 million for Aedifica
The issue price represented a discount of 5.32% compared to the price of the Aedifica share immediately prior to suspension of trading on 23 June 2022 (€91.89 per share) (reduced by the estimated value of the pro rata temporis dividend coupon), and a premium of 8.71% compared to the last reported net asset value
The offer was oversubscribed multiple times at the offer price with strong demand from international investors, including a significant proportion of high quality long-only real estate specialist accounts
Aedifica intends to use the net proceeds of the offering to: 1. finance execution of the committed investment program; and 2. strengthen the balance sheet in order to pursue the company’s growth strategy through new developments and acquisitions in the European healthcare real estate market while maintaining a solid debt-to-asset ratio

Aedifica is a regulated real estate company under Belgian law specialised in European healthcare real estate, particularly in elderly care and senior housing
The company has developed a portfolio of over 580 sites in Belgium, Germany, the Netherlands, the United Kingdom, Finland, Sweden, Ireland and Spain, worth more than €5 billion
Aedifica is listed on Euronext Brussels (2006) and Euronext Amsterdam (2019)
Aedifica’s market capitalisation was approx. €3.5 billion as of 22 June 2022

Kempen has advised on Real Estate transactions in 15 different countries in Europe over the last 5 years
This transaction underpins our leading position in European Real Estate ECM since 2011