Prisma Properties, a fast-growing property owner and property developer in modern necessity-driven discount retail, hereby announces its intention to list its shares on Nasdaq Stockholm. In connection with the Listing, a diversification of ownership is planned to take place through an offering of newly issued and existing shares in the company. The new issue of shares in the offering is expected to raise gross proceeds of approximately MSEK 1,250, before the deduction of transaction costs. The existing shares are offered for sale by companies indirectly controlled by Alma Property Partners I AB ("Alma Property Partners I"). Funds managed and advised by Capital World Investors, Clearance Capital Limited, Länsförsäkringar Fondförvaltning and a fund managed by ODIN Forvaltning have, subject to certain conditions, undertaken to acquire or subscribe for shares in the offering at a price of SEK 27.50 per share and a total amount of SEK 624 million, which would value Prisma's shares at approximately SEK 4,523 million, based on the expected total amount of outstanding shares in the company after the completion of the offering.

Prisma is a fast-growing property owner and property developer, specialising in modern, necessity-driven discount retail with a focus on the development and long-term management of properties intended for discount stores, grocery stores, and fast-food restaurants in strategic locations throughout the Nordic region. Through close collaboration with leading discount chains across the Nordic region, Prisma develops and manages modern properties and serves as an integral part of its tenants' expansion strategies. Prisma's property portfolio is located in strategic locations with high consumer accessibility in fast-growing regions. The properties are characterised by being located in areas of high traffic flows, directly adjacent to motorways, major roads or retail parks.

Prisma has a high-yielding and modern real estate portfolio with an average lease length of 9.1 years, of which more than 70 per cent has been developed since 2016. As of 31 March 2024, Prisma's property portfolio comprised in total 120 investment properties, with a lettable area of 268,165 square metres and a property value, including project properties, of SEK 6.4 billion. Since 2016, the underlying property portfolio has grown through project development and strategic acquisitions in the funds Alma Property Partners I and Alma Property Partners II AB ("Alma Property Partners II", and together with Alma Property Partners I, "Alma Property Partners").  In connection with Alma Property Partners' formation of Prisma in 2022, the property portfolio was separated and acquired by the company, against payment in the form of shares in Prisma. Alma Property Partners is, through the companies indirectly controlled by Alma Property Partners I and Alma Property Partners II, a principal shareholder of Prisma.

Prisma's management team has extensive knowledge of the property sector. Prisma's current Chief Executive Officer Fredrik Mässing has collaborated and invested alongside Alma Property Partners since 2017, and has also aided in the expansion and development of the company's current property portfolio, including the retail centre Handelsplatsen Häggvik in Sollentuna, Sweden. Martin Lindqvist joined the company as Chief Financial Officer in 2022 and has extensive experience from the property sector, most recently from Atrium Ljungberg where he served as Chief Financial Officer. Johan Nielsen was recruited as Chief Operating Officer in 2023 but has been involved in Prisma's business since 2018 through his role at P&E Fastighetspartner, which has managed Prisma's property portfolio historically. Prisma's management team also includes Chief Development Officers Carsten Krebs and Thomas Hansen, who have both collaborated with Alma Property Partners since 2018 and have jointly been involved in the development of the property portfolio and the expansion of the company's investment in discount retail properties, and have enabled Prisma's expansion into other Nordic countries.

The company expands and develops its property portfolio with a focus on profitable growth, enabled by fast decision-making, flexibility, extensive sector knowledge and financial strength. Through development and tenant adaptations, Prisma creates properties that are managed with a long-term perspective in order to create value for Prisma's owners and stakeholders.

Prisma's vision is to be the leading developer and long-term owner of discount retail properties in the Nordic region. Alma Property Partners as well as the company's board of directors and executive management consider the offering and the Listing to be a natural and important step in Prisma’s continued development. The offering and the Listing are expected to broaden the ownership base, prepare the company financially by generating an effective long-term supply of capital, promote growth and development, and increase awareness and strengthen the company's profile among the company's stakeholders.

On 21 May 2024, Nasdaq Stockholm's listing committee resolved that Prisma meets the listing requirements of Nasdaq Stockholm. Nasdaq Stockholm will approve an application for admission to trading of the company's shares on Nasdaq Stockholm, subject to certain customary conditions, including that the company submits such application and that the distribution requirement for the company's shares is fulfilled. Depending on market conditions, the offering and the Listing are expected to be completed during the second quarter of 2024.

Fredrik Mässing, Chief Executive Officer of Prisma, comments:

"We are pleased to announce Prisma's intention to list its shares on Nasdaq Stockholm. The Listing marks an important milestone in our growth journey and reflects the significant development our property portfolio has undergone since 2016. Our commitment to developing and managing properties in strategic locations has established us as a key player in the real estate space serving the modern necessity-driven discount retail sector in the Nordics. As a listed company, we remain dedicated to our mission to support our tenants' expansion strategies and contribute to a vibrant ecosystem within the discount retail sector. We are proud to offer future investors the opportunity to be a part of Prisma's growth journey as we continue to develop and acquire properties in attractive locations for the leading discount retailers in the Nordics."

Simon de Château, chairman of the board of directors of Prisma and partner at Alma Property Partners, comments:

"Prisma's upcoming listing on Nasdaq Stockholm is a validation that we made the right decision in building a strong platform within the discount segment. As the chairman of Prisma and a partner at Alma Property Partners, I am proud of what we have achieved together with Prisma's experienced management team. The board of directors believes that a listing of Prisma's shares on Nasdaq Stockholm will position the company to capitalize on both its extensive development portfolio and pursue attractive acquisitions."