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Fastighetsbolaget Emilshus AB (publ) ("Emilshus" or the "Company") has, in accordance with the Company's press release earlier today, completed an accelerated book building procedure and the Board of Directors has resolved on a directed issue of 12 million preference shares at a subscription price of SEK 30.00 per preference share (the "Share Issue"). As a result of strong investor demand, the Company decided to increase the Share Issue from the previously communicated 10 million preference shares. Through the Share Issue, Emilshus will receive total proceeds of SEK 360 million before transaction related costs. In connection with the Share Issue, the Company invited the general public in Sweden to subscribe for new preference shares via Avanza's platform.
The Share Issue was carried out with deviation from the shareholders' pre-emptive rights and was resolved by the Board of Directors pursuant to the authorisation granted by the annual general meeting on 21 April 2026. The subscription price in the Share Issue was determined through an accelerated book building procedure and corresponds to a discount of approximately 4.9 % in relation to the closing price of the Company's preference share on Nasdaq Stockholm on 9 June 2026 (SEK 31.55). A number of Swedish and international professional investors, including the existing shareholder AB Sagax, participated in the Share Issue.
Within the scope of, and on the same terms as those applicable to, the Share Issue, preference shares were also offered to the general public in Sweden (the "Offering to the General Public").
Background and rationale for the Share Issue
Emilshus is a real estate company rooted in the business culture of Småland that acquires, develops and manages high yield commercial properties, with southern Sweden as its core market. The Company's overall objective is to create shareholder value by generating annual growth in income from property management per ordinary share of at least 15 % and an average annual return on equity over a five-year period of at least 15 %. As of 31 March 2026, Emilshus' property value amounted to SEK 13,064 million, of which 71 % comprises light industry properties, 20 % big-box and grocery retail and 9 % other categories.
On 20 April 2026, Emilshus announced the acquisition of ten light industrial properties for SEK 614 million, with a total lettable area of 53,100 sqm. Earlier in April, Emilshus announced that the Company, in two separate transactions, had acquired four light industrial properties in Linköping and Vaggeryd for SEK 217 million, with a total lettable area of 14,200 sqm. Emilshus considers that attractive investment opportunities continue to exist and intends to use the proceeds from the Share Issue for property acquisitions and investments in the existing property portfolio.
Deviation from the shareholders' pre-emptive rights
Prior to the Share Issue, the Company's Board of Directors has made an overall assessment and carefully considered the possibility of raising capital through a rights issue with pre-emptive rights for the Company's shareholders. The Board of Directors considers that the reasons for deviating from the shareholders' pre-emptive rights are that (i) the Company's preference shares come with certain conditions in relation to the Company's ordinary shares and are therefore deemed particularly suited for a certain category of investors, (ii) to diversify the Company's preference shareholder base with mainly professional investors in order to strengthen the liquidity in the Company's preference share, (iii) that a rights issue would take longer to carry out which, particularly in the prevailing market conditions, would entail exposure to potential market volatility, and (iv) that the speed of the procedure is deemed to make it easier for the Company to actively pursue investment opportunities in the current market while maintaining a flexible and balanced capital structure. Taking the above into account, the Board of Directors has made the assessment that a directed issue of preference shares with deviation from the shareholders' pre-emptive rights is the most favourable alternative for carrying out the capital raising.
As the subscription price in the Share Issue has been determined through an accelerated book building procedure, it is the Board of Directors' assessment that the market value of the subscription price has been ensured by reflecting prevailing market conditions and investor demand.
Subscription price and number of shares
The subscription price, SEK 30.00 per preference share, and the number of new preference shares have been determined through an accelerated book building procedure by ABG Sundal Collier AB as Sole Global Coordinator and Joint Bookrunner and Avanza Bank AB (publ) as Joint Bookrunner. It is the Board of Directors' assessment that the subscription price is at market value, in that it reflects prevailing market conditions and investor demand.
The Share Issue means that the total number of shares in Emilshus increases by 12,000,000, from 156,242,203 to 168,242,203, divided into 10,706,770 class A ordinary shares, 115,535,433 class B ordinary shares and 42,000,000 preference shares. The total number of votes increases by 12,000,000, from 252,603,133 to 264,603,133, and the share capital increases by SEK 24,000,000, from SEK 312,484,406 to SEK 336,484,406, resulting in a dilution effect of approximately 7.1 % based on the total number of shares in Emilshus after the Share Issue and approximately 4.5 % based on the total number of votes in Emilshus after the Share Issue.
Lock-up
The Company has undertaken not to propose or issue additional preference shares for a period of 90 calendar days after the settlement date of the Share Issue, without the consent of the Sole Global Coordinator, with certain exceptions, such as consideration shares in connection with acquisitions.
Advisers
ABG Sundal Collier AB is Sole Global Coordinator and Joint Bookrunner and Avanza Bank AB (publ) is Joint Bookrunner in connection with the Share Issue. Advokatfirman Cederquist is legal adviser to Emilshus.
For further information, please contact:
Jakob Fyrberg, CEO
E-mail: jakob.fyrberg@emilshus.com
Telephone: +46 705-93 95 96
About Emilshus
Emilshus is a real estate company rooted in the business culture of Småland that acquires, develops and manages high-yield commercial properties with southern Sweden as its core market. As of 31 March 2026, the Company's property portfolio amounted to 1,226 ksqm of lettable area distributed over 251 properties, with an emphasis on light industry and big-box and grocery retail. The Emilshus ordinary share and preference share are listed on Nasdaq Stockholm.
IMPORTANT INFORMATION
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions under law and persons in jurisdictions where this press release has been published or distributed should inform themselves of and follow such legal restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer to sell, or a solicitation of any offer, to acquire or subscribe for securities issued by the Company in any jurisdiction where such offer or solicitation would be unlawful or require registration or other measures.
This press release does not constitute an offer or solicitation to acquire or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration, or an exemption from registration, under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration, an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of such securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, in or into the United States, Australia, Japan, Canada or any other jurisdiction where such announcement, publication or distribution of the information would be unlawful or where such action is subject to legal restrictions or would require registration or other measures other than those required under Swedish law. Actions taken in violation of this instruction may constitute a breach of applicable securities laws and regulations.
This press release is not a prospectus within the meaning of Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. The Company has not approved any offering of securities to the public in any EEA Member State other than Sweden (and only within the scope of the Offering to the General Public, as defined above), and no prospectus or information document has been prepared or will be prepared in connection with the Share Issue or the Offering to the General Public. In each EEA Member State, this communication is directed only at "qualified investors" (other than the Offering to the General Public, as defined above) in that Member State within the meaning of the Prospectus Regulation.
In the United Kingdom, this press release is directed and communicated only to persons who are "qualified investors" (as defined in paragraph 15 of Schedule 1 to the Public Offers and Admissions to Trading Regulations 2024) and who: (i) have professional experience in matters relating to investments and fall within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), (ii) are high net worth entities falling within Article 49(2)(a)-(d) of the Order, or (iii) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "Relevant Persons"""). Persons in the United Kingdom who are not Relevant Persons should not act on or rely on the information in this press release or use it as a basis for taking any action. In the United Kingdom, any investment or investment activity to which this press release relates is available only to, and will be engaged in only with, Relevant Persons.
This press release does not identify, or purport to identify, the risks (direct or indirect) that may be associated with an investment in the Company's shares. Any investment decision to acquire or subscribe for new shares in the Share Issue must be made on the basis of publicly available information relating to the Company and the Company's shares. Such information has not been verified by the Joint Bookrunners. The Joint Bookrunners act for the Company in connection with the Share Issue and for no one else. The Joint Bookrunners will not be responsible to anyone other than the Company for providing the protections afforded to their clients or for giving advice in connection with the Share Issue or any other matter referred to herein.
This press release does not constitute a recommendation in respect of any investors' decisions regarding the Share Issue. Each investor or potential investor should conduct its own examination, analysis and evaluation of the business and the information described in this press release and all publicly available information. The price and value of the securities may decrease as well as increase. Past performance is not a guide to future performance. Neither the contents of the Company's website nor any other website accessible through hyperlinks on the Company's website are incorporated into or form part of this press release.
Failure to follow these instructions may result in a breach of the Securities Act or applicable laws in other jurisdictions.
Forward-looking statements
This press release contains forward-looking statements that reflect the Company's intentions, assessments or expectations regarding the Company's future results, financial position, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are statements that do not relate to historical facts and may be identified by the inclusion of words such as "believe", "expect", "anticipate", "intend", "estimate", "will", "may", "assume", "should", "could" and, in each case, their negative, or similar expressions. The forward-looking statements in this press release are based on various assumptions, many of which are based, in turn, on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, it cannot be guaranteed that they will materialise or prove to be correct. As these assumptions are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome may, for many different reasons, differ materially from those set out in the forward-looking statements. Such risks, uncertainties, contingencies and other important factors may cause actual events to differ materially from the expectations expressed or implied in this press release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are correct, and readers of this press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements expressly or implicitly contained herein speak only as of the date of this press release and are subject to change. Neither the Company nor anyone else undertakes to review, update, confirm or publicly release any revisions to any forward-looking statement to reflect events that occur or circumstances that arise in relation to the contents of this press release, unless required by law or Nasdaq Stockholm's rulebook for issuers.
Information to distributors
In order to comply with the product governance requirements contained in: (a) Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments, as consolidated ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593, which supplements MiFID II; and (c) national implementing measures (together, the "MiFID II Product Governance Requirements"), and to disclaim any extra-contractual, intra-contractual or other liability to which any "manufacturer" (within the meaning of the MiFID II Product Governance Requirements) may otherwise be subject, the shares of Emilshus have been subject to a product approval process, which has determined that these shares are: (i) suitable for a target market consisting of retail investors and investors meeting the criteria of professional clients and eligible counterparties, as defined in MiFID II (the "Positive Target Market"); and (ii) suitable for distribution through all distribution channels permitted under MiFID II. Distributors should note that: the price of the Emilshus shares may fall and investors may lose all or part of their investment; the Emilshus shares are not subject to any guarantee of return or capital protection; and an investment in the Emilshus shares is only suitable for investors who are not in need of a guaranteed return or capital protection and who (alone or with the assistance of an appropriate financial or other adviser) are capable of evaluating the merits and risks of such investment and have sufficient resources to bear the losses that may result from such investment. Conversely, an investment in the shares of Emilshus is not suitable for investors who need full capital protection or full repayment of the amount invested, cannot bear any risk or require a guaranteed or predictable return (the "Negative Target Market", and together with the Positive Target Market, the "Target Market"). The Target Market assessment is without prejudice to any other requirements regarding contractual, legal or regulatory sales restrictions in relation to the Share Issue.
For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, purchase or take any other action whatsoever with respect to the shares in Emilshus.
Each distributor is responsible for undertaking its own target market assessment in respect of the shares in Emilshus and determining appropriate distribution channels.
Information pursuant to the Screening of Foreign Direct Investments Act (2023:560)
Emilshus has assessed that the Company currently conducts activities that are subject to protection pursuant to the Screening of Foreign Direct Investments Act (2023:560) (Sw. lag (2023:560) om granskning av utländska direktinvesteringar), which means that certain investments in the Company require notification to and review by the Swedish Inspectorate for Strategic Products. Investors should take into account the requirements for such notification and review in connection with any participation in the Share Issue. For more information, please visit the Swedish Inspectorate for Strategic Products' website, www.isp.se, or contact the Company.
This information is information that Emilshus is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-06-09 23:15 CEST.
