Atenor has secured commitments from multiple key shareholders to subscribe to a capital increase of 45.3 million euros, reinforcing the company’s financial position amid a challenging real estate market.
Major investors contributing to the capital increase include:
• 3D NV (25 million euros)
• Luxempart S.A. (7.5 million euros)
• Vandewiele Group NV (10 million euros)
• MidelCo NV (2.5 million euros)
• Stéphan Sonneville SA (0.3 million euros)
The new shares will be issued at 2.62 euros per share, reflecting a 14.75 percent discount compared to the average closing price between February 3 and February 28, 2025.
The issuance is expected to be completed by March 7, 2025, with the shares to be listed on Euronext Brussels.
Strategic objective
CEO Stéphan Sonneville emphasizes that the capital increase will strengthen Atenor’s financial position, providing greater flexibility for project sales and development, particularly in the residential sector.
It will also improve the company’s negotiating position for refinancing, ultimately aiming to reduce financing costs.
The investors have agreed to a 12-month lock-up period for the newly issued shares. The capital increase is being conducted without preferential rights for existing shareholders, under the framework of authorized capital.
This move aligns with Atenor’s three-year plan, as outlined in its February 28, 2025 announcement, and positions the company for sustainable growth in a still-uncertain real estate market.
