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KWG Kommunale Wohnen AG closes its rights issue and raises gross proceeds of EUR 18.8 millions

04-07-2012 11:19 AM CET | Industry, Real Estate & Construction

Press release from: KWG Kommunale Wohnen AG

Hamburg, 05 April 2012 - KWG Kommunale Wohnen AG (hereinafter KWG AG) has successfully closed its rights issue from its authorised capital. By issuing the total of 3,576,505 new shares at a subscription price of EUR 5.25 the company raises gross proceeds of approximately EUR 18.8 millions. The subscription period for its existing shareholders lasted from 16 March 2012 until 30 March 2012. New shares that had not been subscribed to during the subscription period, have been placed in a private placement with institutional investors at the subscription price of EUR 5.25 per share.

After registration of the capital increase in the Commercial Register that is expected for 10 April 2012 the share capital of KWG AG will be increased by issuing 3,576,505 new bearer shares (notional no-par-value shares) by EUR 3,576,505 from EUR 10,804,729 to EUR 14,381,234. Each new share will have a notional share of EUR 1.00 in KWG AG's share capital. The new shares are expected to trade pari passu to the existing old shares from 11 April 2012 at the Frankfurt Stock Exchange.

The proceeds from the capital increase will enable KWG AG to fund further accretive growth projects from its already existing and FFO-positive operational platform.

Silvia Quandt & Cie AG as tied agent of biw Bank für Investments und Wertpapiere AG had a significant role in the success of the capital increase along with ACON Actienbank AG and LFG Kronos Investment Services GmbH.

CEO Stavros Efremidis is very content with the outcome: 'Silvia Quandt and Cie. AG has successfully explained our growth story to the markets and has placed our shares with renowned international investors. The capital increase is an important milestone in KWG AG's success story.'

About KWG AG

KWG Kommunale Wohnen AG is a German property company with a long-term investment approach. The company acquires property portfolios for attractive prices in well positioned micro-locations of metropolitan regions and medium-sized cities. With an active real estate asset management KWG creates sustainable value and reduces the utility costs for the tenants with a consequent enhancement of the portfolio’s energy efficiency. The corporation offers services along the entire value chain comprising purchasing, construction management as well as property management. With the combination of these measures KWG is able to reduce its vacancy rates considerably and increases its revenue from rentals providing an exceptionally high return on equity. Currently the portfolio of KWG incorporates
2 more than 5,400 residential and commercial properties. The company’s shares are listed in the Entry Standard of the Frankfurt Stock Exchange.

KWG Kommunale Wohnen AG
Alstertor 9
20095 Hamburg

Press Relations
edicto GmbH
Axel Mühlhaus / Werner Rüppel
Eschersheimer Landstraße 42
60322 Frankfurt
Telefon: +49 (0) 69-905 50 55 2

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