Austrian development company Meinl EL has announced it will raise about EUR 1.5 bn through the issue of 75 million new shares at a price of EUR 19.7 each. The offer period will start on January 22 and will end on February 9, 2007. The proceeds are expected to be used to finance further expansion of the Meinl EL portfolio, researchers at merchant bank Kempen & Co reported.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
