The private placement attracted a broad base of professional investors from the US, UK, Sweden, Norway, Finland, The Netherlands, Monaco, Iceland, Germany and France giving the company a very international shareholder structure.
The owners of SPD’s first investment, the development projects at Fornebu, Norway, have agreed to receive 40 per cent of the value of the property in shares in SPD. This is an increase by 33 percent compared to what was initially agreed in December 2006 and underlines their commitment to the company.
The private placing was managed by SEB Enskilda ASA and ABG Sundal Collier Norge ASA.
Stein Haugbro, Director, Aberdeen Property Investors and CEO, Scandinavian Property Development ASA comments:
“We are very pleased by the fantastic reception from institutional investors in both Norway and abroad. The success of the private placing confirms the attractiveness of our business model and lays the foundations for the positive development of SPD. The market capitalisation and the shareholder structure should make this an attractive stock after the planned IPO.”
The company is preparing for an OTC-listing in Norway later in 2007.
Ends
For further information, please contact:
Stein Haugbro, CEO Scandinavian Property Development
Tel: +47 950 26 210,
stein.hagbro@aberdeenpropertyinvestors.com
Espen Klevmark, Managing Director Aberdeen Property Investors Norway
Tel: +47 900 23 111, espen.klevmark@aberdeenpropertyinvestors.com
Bård Bjølgerud, Director, SEB Enskilda ASA T
el: +47 21 00 85 24 / +47 98 22 85 24,
E-mail: bard.bjolgerud@enskilda.no
Charlotte Barker / Tom Siveyer, Maitland Tel: +44 207 379 5151
About Scandinavian Property Development ASA
Scandinavian Property Development ASA (SPD) is a new property company, which will invest in larger development projects in most property-segments in Scandinavia. The company will take a leading role within property development in this market. During 2007, SPD will establish a portfolio consisting of a mixture of pure development projects, and commercial properties with potential for further development.
Through agreements with current property owners at the Fornebu-area outside Oslo, the company has secured access to a start-up portfolio valued at app. Eur 400 million (NOK 5 billion). SPD is targeting a portfolio value of EUR 1.2-1.8 billion by the end of 2007. SPD is planning to apply for a listing of the shares during the second half of 2007.
The company is managed by Aberdeen Property Investors and will shortly have a website: www.scandinavianproperty.no
About Aberdeen Property Investors
Aberdeen Property Investors is the specialised property division of Aberdeen Asset Management plc, a global investment management group listed on the London Stock Exchange and managing over EUR 100 billion of assets.
Aberdeen Property Investors manages some EUR 10 billion in property investments through property funds and management mandates on behalf of its institutional client base. The division has some 500 employees at offices in ten European countries.
Aberdeen was named the leading Property Investment Manager; Globally, in Western Europe and in the Nordic & Baltic regions in the Euromoney Awards 2006 for Excellence in Real Estate.
Issued and approved by Aberdeen Asset Managers Limited, on behalf of Aberdeen Property Investors,