NSI - Big changes in shareholder structure
First Sponsor Group acquires EUR 42.9m of NSI shares at EUR 20.00 per share (11% above last close & 43% below latest NTA).With these 2,145,960 shares First Sponsor Group will be a 13.52% shareholder, the biggest in NSI.The seller is previous biggest shareholder ICAMAP.We reiterated our ‘Hold' rating and EUR 22.00 TP.More details in our Note published this MorningNSI NV, formerly Nieuwe Steen Investments NV, is a closed-end real estate investment firm based in the Netherlands. The Firm invests in a real estate portfolio, which it also actively manages. It operates in three segments: the Netherlands, Belgium and Switzerland. Its investments are primarily focused on office and retail properties in the Netherlands and on offices and logistics real estate in Belgium. The Firm's portfolio comprises over 300 lettable properties. The Firm has around 40 subsidiaries, including NSI Bedrijfsgebouwen BV, NSI Beheer BV, NSI Development BV, VastNed Offices Benelux Holding BV, Munuvius BV and NSI Luxembourg Holding Sarl, among others.
We are an investment house with Belgian roots founded on more than 150 years of trust.
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