Housing investment company Sato is set to launch a share issue of up to 200 million euros in order to strengthen its equity ratio. This move will provide more financing options for the company, according to sources.
The company’s largest shareholder, Balder Finland Otas AB, has expressed its support for the share issue. Sato plans to hold an extraordinary general meeting on Monday to seek approval from its current shareholders for the issuance of shares worth up to 200 million euros. The proposed number of shares that will be issued is a maximum of 56,700,000 shares, which is equivalent to about one hundred percent of all the company’s shares.
The condition for the successful completion of the share issue is that Sato’s current shareholders grant authorization at the general meeting. The offering is expected to be completed by the end of February 2024, subject to market conditions. The announcement was made in accordance with applicable securities laws and regulations.