VGP NV’s €109.18 Million Follow-on Equity Offering

Dentons has advised VGP NV on the deal.

VGP NV executed its €109.18 million Rule 144A/Regulation S placement of its existing ordinary shares held by VGP Belgium NV (a 100% subsidiary of VGP NV) via an accelerated bookbuilt offering to institutional investors.

The placed shares account for approximately 4.51% of VGP NV’s outstanding shares, and were priced at a discount of 4.16% compared to the last traded share price of €122.60 on 2 September 2020. VGP NV’s shares are listed on Euronext Brussels and the Prague Stock Exchange. The transaction was announced on 3 September 2020, and the shares were placed on 7 September 2020.

VGP will use the net proceeds from the capital increase to finance the development of current projects under construction and new pre-let projects, as well as the selective expansion of the land bank.

J.P. Morgan Securities plc and KBC Securities NV acted as Joint Global Coordinators and Joint Bookrunners for the transaction, and Belfius Bank NV/SA acted as Joint Bookrunner.

VGP is a leading pan-European developer, manager and owner of high-quality logistics and semi-industrial real estate. VGP is present in twelve European countries, including Germany, Czech Republic, Spain, Netherlands and Romania, both directly and through its joint ventures with Allianz Real Estate.

Argo BCVBA acted as Belgian counsel to VGP NV.

Dentons advised VGP NV with a team led by Cameron Half (Picture), supported on the transaction by London-based US Securities associate Yash Ranade.

Involved fees earner: Cameron Half – Dentons; Yash Ranade – Dentons;

Law Firms: Dentons;

Clients: VGP NV ;