Eurocastle Investment Limited : Eurocastle Announces doBank IPO Results and Second Quarter 2017 Earnings Call
July 12 2017 - 11:48AM
EUROCASTLE INVESTMENT
LIMITED
FOR IMMEDIATE RELEASE
Contact:
International Administration Group (Guernsey) Limited
Company Administrator
Attn: Mark Woodall
Tel: +44 1481
723450
Eurocastle
Announces doBank IPO Results and Second Quarter 2017 Earnings
Call
Guernsey, 12 July 2017 -
Eurocastle Investment Limited ("Eurocastle" or the "Company") today
announces that doBank, in which Eurocastle holds a 50% stake, has
reported the pricing of the initial public offering of 34,700,000
shares at €9.00 per share. This represents 44.35% of doBank's
share capital (excluding 1,750,000 of treasury shares) following
full exercise of the upsize option. These figures do not
include up to a further 3,470,000 shares which can be sold as part
of the greenshoe option at the discretion of the Joint Global
Coordinators within 30 days following the first day of
trading. The shares, which were sold by Eurocastle and other
Fortress affiliates, are expected to commence trading on Friday, 14
July 2017 on the Mercato Telematico Azionario organised and managed
by Borsa Italiana S.p.A. ("MTA").
The price of €9.00 per share
equates to a market capitalisation of doBank of €704 million.
Eurocastle's most recently reported adjusted NAV for its 50%
interest of doBank is €270 million. Following settlement of the
offering, Eurocastle and other Fortress affiliates will retain an
55.65% interest in doBank, or 51.22% should the greenshoe option be
exercised in full (excluding 1,750,000 of treasury shares).
Further information regarding this
transaction and how it affects Eurocastle will be provided with the
Company's financial results for the second quarter ended 30 June
2017, which will be released on 3 August 2017 before the market
opens. In addition, management will host an earnings conference
call at 2:00 P.M. London time (9:00 A.M. New York time) later that
day. All interested parties are welcome to participate on the live
call. You can access the conference call by dialing first
+1-800-215-5243 (from within the U.S.) or +1-330-863-8154 (from
outside of the U.S.) ten minutes prior to the scheduled start of
the call; please reference "Eurocastle Second Quarter 2017 Earnings
Call or conference ID number 54172236".
A webcast of the conference call
will be available to the public on a listen-only basis at
www.eurocastleinv.com. Please allow extra time prior to the c all
to visit the site and download the necessary software required to
listen to the internet broadcast. A replay of the webcast will be
available for three months following the call.
For those who are not available to
listen to the live call, a replay will be available until 11:59
P.M. New York time on Sunday, 3 September 2017 by dialing
+1-855-859-2056 (from within the U.S.) or +1-404- 537-3406 (from
outside of the U.S.); please reference access code "54172236"
*
* *
The doBank
securities may not be offered or sold in the United States unless
they are registered under the United States Securities Act of 1933
or exempt from registration. The securities are not and are not
intended to be registered in the United States.
ABOUT
EUROCASTLE
Eurocastle Investment Limited is a
publicly traded closed-ended investment company that focuses on
investing in performing and non-performing loans and other real
estate related assets primarily in Italy. The Company is Euro
denominated and is listed on Euronext Amsterdam under the symbol
"ECT". Eurocastle is managed by an affiliate of Fortress Investment
Group LLC, a leading global investment manager. For more
information regarding Eurocastle Investment Limited and to be added
to our email distribution list, please visit
www.eurocastleinv.com.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Eurocastle Investment Limited via
Globenewswire
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