AX Group plc - IPO of AX Real Estate Ltd

On 25 October 2021, AX Group plc announced that AX Real Estate Limited (which is the property letting arm of AX Group) intends to submit an application to the MFSA for authorisation for admissibility to listing on the Official List of the Malta Stock Exchange of:

• 33,333,333 ordinary ‘A’ shares which will be offered for sale to the public, subject to an over-allotment option which, if exercised, would increase the offer up to an aggregate of 50 million ordinary ‘A’ shares; and
• €40 million in 3.5% unsecured bonds redeemable in 2031.

AX Group noted that whilst the share and bond offers will be available for subscription by all categories of investors (including the general public through authorised financial intermediaries), preference will be given to investors who, as at a record date yet to be specified, hold listed securities issued by AX Group and/or AX Investments plc. Furthermore, preference in the allocation of the new bonds will be given to prospective applicants applying for a combination of shares and bonds.

Full details on the share and bond offers will be provided in due course, including through the publication of a prospectus for approval by the MFSA.