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Deutsche Wohnen AG: Rights issue of Deutsche Wohnen AG successful - take-up quota of new shares at 132.3%

DGAP-News: Deutsche Wohnen AG: Rights issue of Deutsche Wohnen AG successful - take-up quota of new shares at 132.3%

Deutsche Wohnen AG / Capital Increase


Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.


Rights issue of Deutsche Wohnen AG successful - take-up quota of new shares at 132.3%

Frankfurt am Main, 8 October 2009. The capital increase of Deutsche Wohnen AG, the subscription period of which terminated yesterday, was positively received by the shareholders of the company. In the course of the capital increase 55,440,000 new ordinary bearer shares without par value (non-par-value shares), each representing a pro rata amount of the share capital of EUR 1.00 per share and carrying dividend rights from 1 January 2009 were issued against contributions in cash. Shareholders of the company were granted subscription rights. The subscription price was set at EUR 4.50 per share. The new shares are expected to be traded on the Frankfurt Stock Exchange from 9 October 2009.

Holders of subscription rights were able to acquire 21 new shares in return for ten subscription rights held. OCM Luxembourg Real Estate Investments S.à r.l. and OCM Luxembourg Opportunities Investments S.à r.l. have subscribed for shares in the total amount of EUR 54.8 m corresponding to 22.0 % of the total volume of the transaction.

The take-up quota (including additional subscription rights) was approx. 132.3 %, thereof 99.9 % were subscribed for by exercising subscription rights and an additional 32.3 % by exercising additional subscription rights in the subscription offer. New shares, for which the subscription rights were exercised, will be fully allocated to the subscription right holders. With regard to the exercised additional subscription rights, the remaining new shares will be allocated as described in the German Offering Circular published on 22 September 2009. The share capital of Deutsche Wohnen AG has been increased by EUR 55.44 m from EUR 26.4 m to EUR 81.8 m, upon the registration of the implementation of the capital increase with the commercial register on 7 October 2009. The offer is expected to conclude on 9 October 2009.

The aggregate gross proceeds from the capital increase will amount to approx. EUR 249.5 m. It is envisaged that about half of the expected aggregate net proceeds of approx. EUR 236.5 m will be used to reduce liabilities of the Deutsche Wohnen Group.

Michael Zahn, Chairman of the Management Board of Deutsche Wohnen AG, comments on the capital increase: 'The capital increase strengthens our financial resources and allows us to benefit from the currently unsettled property market by means of selective asset purchases. We are pleased that the shareholders of Deutsche Wohnen fully support our strategy, including the capital increase.'

BofA Merrill Lynch and UBS Investment Bank fully underwrote the capital increase and managed the transaction as Joint Global Coordinators and Joint Bookrunners.

This information is available on the internet at
Deutsche Wohnen AG

Deutsche Wohnen AG is, according to its own estimates, Germany's second-largest publicly traded residential real estate company, measured in terms of market capitalization, and property portfolio, which currently includes 50,611 units (50,122 of which are residential units). Its business strategy focuses on attractive residential properties, currently in the important business centers of Berlin and the Rhine-Main area. The Deutsche Wohnen Group is, inter alia, the owner of the Hufeisensiedlung in Britz, the Weiße Stadt in Berlin-Reinickendorf and the Ringsiedlung Siemensstadt, which were declared UNESCO World Heritage sites in July 2008.

Deutsche Wohnen AG

Pfaffenwiese 300

65929 Frankfurt am Main


International Securities Identification Numbers (ISINs): DE000A0HN5C6 / DE0006283302 / DE000A0XFUU5


Tanja Kurz

Vorstandsassistenz IR 

Tel.: +49 (0)30 897 86-551


This information neither constitutes a prospectus, nor an offer or an invitation to purchase shares or other securities of Deutsche Wohnen AG nor does it replace the prospectus. Subject to the approval of the Federal Agency for Financial Services Supervision (Bundesanstalt für Finanzdienstleistungsaufsicht; BaFin), a prospectus was published before the commencement of the subscription period, which is available free of charge from Deutsche Wohnen AG and the underwriting banks. This information does not constitute an offer to sell or buy securities in the USA, Canada, Australia and Japan. The shares of Deutsche Wohnen AG are allowed to be offered or sold in the USA only after prior registration in accordance with the provisions of the U.S. Securities Act 1993, as amended, or on the basis of a registration exemption. There will be no public offering of shares in the USA.

This information contains forward-looking statements that are based upon current views and assumptions of Deutsche Wohnen AG's management and were made to its best knowledge. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors which could cause the earnings position, profitability, performance or the results of Deutsche Wohnen AG or the success of the housing industry to differ materially from the earnings position, profitability, performance or the results expressly or implicitly assumed or described in these forward-looking statements. In consideration of these risks, uncertainties and other factors, persons receiving these documents are advised not to unreasonably rely on these forward-looking statements. Deutsche Wohnen AG does not assume any obligation to update such forward-looking statements and to adjust them to any future results and developments.

08.10.2009  Financial News transmitted by DGAP

Language:     English
Company:      Deutsche Wohnen AG
              Pfaffenwiese 300
              65929 Frankfurt
Phone:        +49 (0)30 89786-0
Fax:          +49 (0)30 89786-509
ISIN:         DE000A0HN5C6, DE0006283302
WKN:          A0HN5C, 628330
Indices:      SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Hamburg, Stuttgart  
End of News DGAP News-Service