IMMOFINANZ: Cpi offer price too low
BizLife 27.01.2022 | BIZLife
The Executive Board, Supervisory Board and Works Council of IMMOFINANZ today issued statements in which they indicate that the offer price of EUR 21.20 per share is viewed as not attractive and recommend that investors not accept the offer by CPIPG for IMMOFINANZ’s shares and convertible bonds.
The offer price of EUR 21.20 (cum dividend for the 2021 financial year) specified by CPIPG in its anticipatory mandatory offer represents a discount to the reference values used to determine a fair value for the IMMOFINANZ share. The discount of roughly 28% places the offer price clearly below the current (diluted) EPRA NTA per share of EUR 29.45. A comparison with other key valuation benchmarks, e.g. EPRA NAV per share or the IFRS book value per share, also shows
