Hamburg (dpa -AfX) – Tag Immobilien has been issued by the issue of new shares and Bonds around 288.2 million euros. With the income, the Hamburgers want to finance an equivalent of 565 million euros in purchase of around 5,300 rental apartments in Poland. The capital measures were not well received on the stock exchange. The share gave up by around 1.7 percent in early trade on Wednesday.
As the company in the MDAX announced in Hamburg late Tuesday evening, almost 12.5 million new shares in 14.90 euros were placed. The proceeds were 185.9 million euros. The number of shares increases by more than seven percent to around 189 million. In addition, the company increased a convertible bond running up to 2031. As a result, Tag Immobilien took another 102 million euros. The new conversation of conversions can be converted into up to 5.2 million shares or almost three percent of the share capital.
Simon Stippig from the Warburg Research analysis house expected the second quarter of 2026 at the latest when the convertible bond was led. However, the industry expert wrote the issue of new shares with a almost 24 percent discount on the net substance value based on the last closing price. However, the expert finds the expansion of the company in Poland correctly.
The apartments are located in the six largest cities in Poland, as day had already announced at the weekend. By buying, the company strengthens its market presence in Wroclaw, Poznan and Lodz. In addition, the company joins the rental housing market in Warsaw, Krakow and Gdansk for the first time. According to preliminary calculations by the Group, the apartments purchased in 2026 are intended to contribute 41 to 43 million euros to the net networks of the group and 32 to 34 million euros for adjusted result before interest, taxes and depreciation. In 2024, the net income had a good 360 million euros and the operational profit (adjusted EBITDA) had around 315 million euros.
After approval, the transaction should be completed by the Polish antitrust authority by the end of the year. After the purchase, the information will have an inventory of around 8,700 rental apartments in Poland. The value of the real estate in the neighboring country will increase from 1.46 billion euros at the end of June to around two billion euros.
Day had entered the Polish market with the purchase of the project developer Vantage Development at the end of 2019 and had expanded the business in 2022 with the purchase of the apartment developer RobyG. Most recently, the real estate group also founded a joint venture with a fund company of the financial investor Centerbridge Partner that is responsible for the purchase of land, the construction and the sale of residential units. In Poland in the long term, the construction of around 20,000 rental apartments is planning in the long term. In Germany, Tag Immobilien has around 83,000 apartments./mne/zb/tav/stk
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