Logistea intends to complete a fully guaranteed capital increase of MSEK 350 to fund growth

Logistea AB (post) (“Logistea“) has a clear growth strategy with the goal of achieving a property value of 15 BSEK by the end of 2024. In order to fund continued growth, the company intends to proceed with a new issue of fully guaranteed shares of MSEK 350, before issue costs, with preferential right for existing shareholders (the “Capital Increase”) The terms and conditions of the Capital Increase will be made public after the Board of Administration will have decided to carry out the Capital Increase, which should take place in mid-March 2022

The demand for premises for warehouses, logistics and light industry is significant and LogisteaThe growth of has been significant since the acquisition of the first property at the end of 2019. At the end of 2021, the company’s project portfolio consisted of 345,145 square meters of leasable area with a land value of 2,607 MSEK. The volume growth of investment properties shows its clarity in annual comparison. The company’s actual rental income quadrupled in 2021 and stood at MSEK 93 (18) for the full year, while net operating profit increased to MSEK 65 (14).

LogisteaThe overall growth target of is to reach BSEK 15 in real estate value within three years, at the end of 2024. The company intends to grow through both property and land acquisition, as well as through new production and investments in its own existing portfolio. The goal going forward is to complete at least 25,000 square meters of new rental space each year and the company sees great opportunities for growth with existing and new tenants.

As part of the company’s growth strategy, the Board of Directors of Logistea intends to resolve a new issue of shares of MSEK 350, before issue costs, with preferential rights for existing shareholders. The decision is taken on the basis of the authorization of the Board of Directors, which was received at the Extraordinary General Meeting of October 22, 2021. The capital increase is fully covered by subscription and guarantee commitments from a number of existing shareholders and is therefore fully guaranteed.

The proceeds of the capital increase are intended to be used to achieve the growth ambition of the company. Among other things, part of the proceeds from the issue are intended to be used in connection with the company’s planned acquisition of a real estate portfolio containing 15 properties with a total value of 770 MSEK. A letter of intent regarding the planned acquisition has been released in a separate press release. press release earlier today.

Logistea has a significant acquisition ambition with the objective of reaching 15 BSEK in land value by the end of 2024. The fact that some of the company’s major shareholders are guaranteeing the rights issue through their subscription and guarantee undertakings confirms their confidence in Logistea and allows the company to realize the business plan and act on interesting business opportunities,” says Nicholas ZuckermanCEO, Logistea.

The terms and conditions of the capital increase will be announced after the board of directors has decided to carry out the capital increase, which should take place in mid-March 2022.