Balder announces directed issue of 18 million Class B shares raising proceeds of a little less than SEK 1.5 billion

The shares in the new issue have been subscribed for by AMF, Länsförsäkringar and Hedin Group. Through the new issue, Balder will receive SEK 1,483,560,000 before issue costs which are estimated to amount to approximately SEK 50,000. The rationale for the share issue is to be able to capture investment opportunities, primarily through acquisitions.

– We are pleased to have received the trust once again from our investors to continue investing in Balder’s future. Being able to continuously working with our capital structure is important to achieve an efficient capital allocation. We look forward to managing this trust to the best of our abilities, says Erik Selin, CEO of Balder.

The purpose of the new issue and the reason for the deviation from the shareholders’ preferential rights, is to increase Balder’s capacity for value creative investments, while also allowing reputable investors to increase their ownership. Due to the extended time period required to carry out a rights issue, it is the board of directors’ assessment that a new issue with deviation from the shareholders’ preferential rights is in Balder's and all shareholders’ interest and therefore also justifies deviation from the main rule that new issues shall be carried out with preferential rights for the shareholders. The board of directors’ assessment is that the terms of the new issue is in accordance with market conditions, since they have been determined through a negotiation at arm's length between Balder and the investors where the subscription price of SEK 82.42 per share is equal to the closing price of the company’s Class B share on Nasdaq Stockholm on 31 October 2024.

The new issue entails a dilution effect of approximately 1.5 per cent in relation to the total number of shares and approximately 1.0 per cent in relation to the total number of votes in Balder by increasing the number of outstanding shares from 1,172,000,000 to 1,190,000,000 (divided into 67,376,592 Class A shares and 1,122,623,408 Class B shares) and the number of votes increases from 177,838,932.8. to 179,638,932.8.

For further information, please contact:
Erik Selin, CEO, tel. +46 (0)31-10 95 92, erik.selin@balder.se  
Ewa Wassberg, CFO, tel. +46 (0)31-351 83 99, ewa.wassberg@balder.se
Jonas Erikson, IR, tel. +46 (0)76-765 50 88, jonas.erikson@balder.se

This information is information that Fastighets AB Balder (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 20:00 CET on 31 October 2024.