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Quabit Asks its Shareholders to Increase its Share Capital by €25 Million to Repay Loans

Quabit Inmobiliaria will hold its General Shareholders' Meeting next week where it will request the right to issue a maximum of 50 million shares at 0.50 euros.

2020 is proving to be a busy year for Quabit. The property developer created from the merger of Rayet Inmobiliaria, Astroc and Landscape has announced that, at its next General Shareholders’ Meeting, to be held on 29 June on the first call or 30 June on the second call,  it is going to propose a capital increase amounting to a maximum value of 25 million euros.

The operation is part of the agreement that Quabit closed with funds managed by Avenue Capital, whose conditions were renegotiated last week. The company, chaired by its largest shareholder Félix Abánades, has agreed to restructure its financing lines worth more than 123 million euros.

Read the full article in Spanish.

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