Genova Property Group has carried out a directed share issue of 2.4 million new shares at subscription price of SEK 120 per ordinary share, directed to institutional investors. Genova will receive SEK 288 million through the Directed Issue before deduction of costs related to the Directed Issue. The subscription price in the Directed Issue has been determined through an accelerated book-building procedure led by Carnegie Investment Bank and Swedbank. The investors in the Directed Issue consist of a number of Swedish and international institutional investors and the Directed Issue was oversubscribed.

"We see the interest in Genova's directed share issue as a sign that we are doing the right things. With the capital injection, we will partly finance a strategic company acquisition in Western Sweden in the form of 50 percent of the shares in the property and development company Järngrinden. At the same time, it is positive for Genova to broaden its ownership base with several reputable institutional investors," says Michael Moschewitz, CEO at Genova.