DGAP-News: Coreo successfully places capital increase

Coreo successfully places capital increase

• Capital inflow of EUR 10.5 million
• Further expansion of real estate portfolio

Frankfurt am Main - December 17th 2018 - Coreo AG (WKN: A0B9VV, ISIN: DE000A0B9VV6, ticker: CORE) has successfully carried out the cash capital increase approved at the Annual General Meeting held on 19 June 2018. A total of 6,585,880 shares were placed at EUR 1.60 per share. The company will therefore receive above EUR 10.5 million.

When the capital increase is entered in the commercial register, Coreo AG's share capital will increase by EUR 6,585,880 from its current level of EUR 9,360,000 to EUR 15,945,880.

The company will use the issue proceeds, together with the additional debt capital that it proposes to raise, for further expansion of its real estate portfolio.

CEO Marin Marinov is delighted about the vote of confidence received from the existing shareholders and new investors: "The successful completion of the capital increase means that we will continue the dynamic development of Coreo as planned. I'm confident to make further investments as early as the first quarter of 2019."
 

About Coreo AG
Coreo AG, which has its registered office in Frankfurt am Main, is a dynamically growing real estate company with a focus on German commercial and residential properties. Investments are made in real estate with considerable potential for appreciation thru refurbishment and repositioning, preferred in A and B macro locations. The goal is to build up an efficiently managed, high-yielding real estate portfolio through prudent development and the sale of non-strategic properties.