publity - Strengthening the second business pillar

As publity shifts towards a two-pillar business model, focused on real estate asset management and investment, its portfolio of fully owned properties (held by PREOS) expanded to €1.5bn, with €8.0bn targeted by 2024. The company aims for both domestic and international expansion, focused on large metropolitan areas in Europe. Prospective growth is planned to be fuelled by a €400m bond issue already announced by PREOS to replace its 2019/2024 convertible, which will be followed by issuing new capital market instruments. The onboarding of new international investors will reduce publity’s stake in PREOS from 86.5%, with publity targeting 25.01% by 2023.