Brussels – 18 December 2013 – EnterNext, the Euronext subsidiary dedicated to promoting and growing its SME market, today saluted the successful listing of Qrf Comm. VA (“Qrf”), a Belgian real estate investment company. The company has joined compartment C of Euronext Brussels.
Qrf is a fixed-capital real estate investment fund investing in commercial real estate in Belgium. More specifically, it focuses on inner-city real estate within the so-called “golden mile” of regional and big cities, i.e. streets that are dominant for their catchment areas.
Qrf (ticker symbol: QRF) was listed through the admission to trading of 3 272 911 shares on Euronext Brussels, making up the company’s equity, of which 3 015 200 are newly created shares as part of a Global Offering.
With total demand surpassing the amount on offer, the oversubscription reflects Qrf’s popularity with both institutional and individual investors in Belgium and abroad. The listing raised a total of € 75.4 million. The admission and issue price of Qrf shares was set at € 25 per share. Market capitalization on the day of listing came to around € 81.8 million.
“It is with open arms that we welcome Qrf to Euronext Brussels. Qrf’s listing is the beginning of a great new chapter for the company and will enable it to meet its strategic goals for the future. We congratulate Qrf on its listing and look forward to a long-standing partnership with the company and its shareholders,” declared Vincent Van Dessel, CEO of Euronext Brussels.
“We are delighted to welcome Qrf to the very wide selection of real estate investment companies listed on Euronext,” said Alain Baetens, Head of Listings at Euronext Brussels. “Its successful listing underscores investors’ great interest in SMEs, particularly in this sector. We look forward to helping Qrf raise its profile and expand its reach in Belgium and the rest of the world. We are proud to witness that the stock exchange contributes in allocating financing resources to the real economy, thereby helping SME entrepreneurs to fulfil their ambition to grow and innovate”.
“I am very satisfied with the results of the IPO. The Qrf management team would like to thank the investors, both private and institutional, for having taken up the offer. This indicates strong belief in our strategy. The successful IPO will act as a stimulus for Qrf’s management moving forward and the further development of Qrf as the city retail REIT in Belgium” said Anneleen Desmyter, CEO of Qrf.
To celebrate the listing, Anneleen Desmyter, CEO of Qrf and youngest CEO of a listed company on Euronext Brussels, rang the bell to open trading on Euronext’s market this morning. She was accompanied by Vincent Van Dessel, CEO of Euronext Brussels and Alain Baetens, Head of Listings of Euronext Brussels.
ING Belgium and KBC Securities were the joint global coordinators for the IPO. ING Belgium, KBC Securities, Belfius and Petercam were the joint bookrunners.