REIT offers common shares at 167.52% premium to closing share price
By Devika Patel
Knoxville, Tenn., Nov. 12 - General Growth Properties, Inc. settled a private placement of common stock on Nov. 9, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold the shares at $47.619048 per share for $250 million. The price per share is a 167.52% premium to $17.80, the Nov. 8 closing share price.
Brookfield Asset Management Inc., The Fairholme Fund and Fairholme Focused Income Fund and Pershing Square Capital Management, LP are the investors.
General Growth is a Chicago-based real estate investment trust that owns regional shopping malls, master planned community developments and commercial office buildings.
| Issuer: | General Growth Properties, Inc.
|
| Issue: | Common stock
|
| Amount: | $250 million
|
| Price: | $47.619048
|
| Warrants: | No
|
| Investors: | Brookfield Asset Management Inc., The Fairholme Fund and Fairholme Focused Income Fund and Pershing Square Capital Management, LP
|
| Settlement date: | Nov. 9
|
| Stock symbol: | NYSE: GGP
|
| Stock price: | $17.39 at close Nov. 9
|
| Market capitalization: | $4.88 billion
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
