DGAP-News: InCity Immobilien AG: Successful Placement of Capital Increase

DGAP-News: InCity Immobilien AG / Key word(s): Capital Increase
InCity Immobilien AG: Successful Placement of Capital Increase

22.12.2010 / 15:51

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InCity Immobilien AG: Successful Placement of Capital Increase

- Widespread interest in subscription rights offer/Multiple
oversubscription
- Increase in share capital to EUR 5,625,000
- Gross issue proceeds of EUR 4,687,500

Cologne, 22 December 2010 - Using authorised capital in accordance with
Section 4 (3) of the Articles of Association, InCity Immobilien AG (symbol:
IC8) has fully placed its capital increase. With entry in the commercial
register, the share capital of the company is increased by EUR 1,875,000
from EUR 3,750,000 to EUR 5,625,000 in exchange for cash contributions. In
total, 1,875,000 new ordinary no-par-value bearer shares, each amounting to
EUR 1.00 of the share capital and having a dividend entitlement for the
2010 financial year, were issued at a subscription price of EUR 2.50 per
share.

At what the company considers to be an attractive subscription price of EUR
2.50 per share, the transaction raised widespread interest among investors
in German-speaking countries, and was multiply oversubscribed. Unsubscribed
shares were placed with institutional investors by Close Brothers Seydler
Bank AG, which supported the capital increase as sole lead manager and sole
bookrunner, in the context of private placement.

Implementation of the capital increase will be recorded in the commercial
register today. Entry in the register will be followed by the inclusion of
the new shares in the Entry Standard (sub-segment of the Open Market with
additional transparency requirements) of Deutsche Börse AG.

'As announced, we will invest the gross issue proceeds of EUR 4,687,500 in
the further growth of InCity Immobilien AG. In line with our new strategy,
we have accredited more regionally operating property developers as InCity
partners. This is the key requirement for concluding further highly
profitable project financing deals, which can be expected within the next
few weeks. We would like to thank our shareholders for their confidence in
the future of InCity Immobilien AG, and look forward to a long-term
partnership', says Jürgen Oppelt, CEO of InCity Immobilien AG.

'The share price development of the past year was a painful experience for
many shareholders. With the attractive subscription offer, we wanted to
thank all our shareholders for their faith in the new business model and
the new team. In addition to our biggest shareholder, the DYVA Group, many
of the existing shareholders fully exercised their subscription rights.
However, several new investors also used the opportunity to participate in
the new InCity in the context of the private placement. The Board of
Management and Supervisory Board of InCity Immobilien AG also participated
in the capital increase, thus underlining their clear commitment to the
development of the company. The incoming cash strengthens the available
liquidity and will be used in full for the new project financing. There is
strong demand throughout Germany for our offer of innovative project
financing and project controlling. We therefore occupy a highly profitable
market niche in the German property market', says Heiko C. Frantzen, CFO of
InCity Immobilien AG.


About InCity Immobilien AG
InCity Immobilien AG specialises in designing and realising high-quality
properties. The company pools the experience from more than 250 projects
for owners and investors. It develops and markets high-end projects with
high added value and short lead times. Accredited InCity partners with
regional know-how provide continuous and nation-wide access to attractive
projects. Within the scope of this cooperation, InCity's activities focus
on providing innovative project finance and property project controlling.
The company uses intelligent realisation concepts to minimise typical risks
encountered by project developers and at the same time maximise earnings.
It creates exclusive, profitable properties in Germany's largest growing
cities. InCity Immobilien AG is committed to taking a responsible approach
with regard to society and environment. The Company expresses this belief
by participating in UN Global Compact, the international initiative of the
United Nations for supporting social and environmental principles. For
further information, please go to www.incity.ag.


Company and IR contact
InCity Immobilien AG
Lars Kuhnke
Phone: +49 (0) 221 95 27 57 55
l.kuhnke@incity.ag


End of Corporate News


22.12.2010 Dissemination of a Corporate News, transmitted by DGAP - a
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Language:    English                                              
Company:     InCity Immobilien AG                                 
             Mozartstr. 1                                         
             50674 Köln                                           
             Deutschland                                          
Phone:       +49 (0)221 952757-55                                 
Fax:         +49 (0) 221 95 27 57 57                              
E-mail:      info@incity.ag                                       
Internet:    www.incity.ag                                        
ISIN:        DE000A0HNF96                                         
WKN:         A0HNF9                                               
Listed:      Freiverkehr in Berlin, Düsseldorf, Stuttgart; Entry  
             Standard in Frankfurt                                
 
 
End of News    DGAP News-Service  
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107432 22.12.2010