July 28, 2021

Milbank Advises Ambrosia Capital in the Share Capital Increase and Public Offering by Premia Properties


Milbank acted as counsel to Ambrosia Capital as sole bookrunner of the share capital increase and public offering by PREMIA Properties, in connection with a domestic offering and an international private placement. The share capital increase of €75 million, covered partly by in-kind contributions and partly in cash, and the issuance of a total of 52,083,331 new shares at an offer price of €1.44 per new share, was completed with great success. Specifically, €27.5 million were covered by contributions in-kind. The remaining new shares amounting to €47.5 million were offered to qualified and private investors in cash at a public offering in Greece and a private placement in Greece and abroad. The cash portion of the combined offer was oversubscribed by 1.36 times.

PREMIA Properties is a real estate investment and management company and its shares are traded on the Athens Stock Exchange. PREMIA's investment portfolio comprises assets in logistics, social real estate (education) and big-box commercial properties (supermarket) sectors.

The Milbank team was led by European Leveraged Finance/Capital Markets partner Apostolos Gkoutzinis. This transaction is one of many other recent mandates by Milbank in Greece which, collectively, help cement the leading market position of the firm and the capital markets team in this region.