BENO Holding AG, which specialises in operational light industrial real estate, is detailing its cash capital increase from Authorised Capital 2025/I announced on 13 October 2026. The company's share capital is set to rise from currently EUR 3,386,790 to up to EUR 4,060,978 through the issuance of up to 674,188 new shares. At a subscription price of EUR 6.50 per share, gross issue proceeds upon full placement will amount to around EUR 4.38 million, representing expected net proceeds of approximately EUR 4.23 million.
Existing shareholders can exercise their subscription rights at a ratio of 5:1, with every five existing shares entitling the holder to acquire one new share. The subscription price includes a calculated discount of around 35 per cent compared to balance-sheet equity, which was reported at around EUR 10.04 per share as of 31 December 2025. The subscription period runs from 26 October to 9 November 2026. Bankhaus ODDO BHF SE in Frankfurt am Main acts as the subscription agent.
Use of proceeds and strategic expansion
The net issue proceeds are to be used entirely to finance ongoing business operations, strengthen the equity ratio, and fund new real estate acquisitions and photovoltaic systems. In the preceding twelve months, the company had already concluded five real estate financings with a total volume of around EUR 28 million and generated around EUR 16 million in free liquidity through four refinancings. In August 2026, the acquisition of a property in Roth near Nuremberg at 8.6 times the annual net cold rent marked the start of the current expansion phase.
According to the management board, the light industrial segment continues to offer favourable framework conditions, as high-quality existing buildings can often be acquired well below the cost of comparable new builds. Michael Bussmann, management board member of BENO Holding, emphasised that alongside portfolio expansion, digital twins and AI-supported systems have been embedded in operations to manage even small-scale holdings efficiently. The additional equity is now intended to form the foundation for further acquisitions.
Key data on subscription rights and placement
- —Subscription ratio: 5 to 1 at a fixed price of EUR 6.50 per new share
- —Subscription period: 26 October to 9 November 2026 via the respective custodian bank
- —Cut-off date for exchange purchases of eligible shares: 23 October 2026
- —Dividend entitlement of the new no-par-value shares: retrospectively from 1 January 2026
There will be no stock exchange trading of subscription rights; unexercised rights will lapse without compensation. In addition to statutory subscription rights, shareholders have an oversubscription option. Any remaining shares can be offered to selected investors in a private placement at a minimum of EUR 6.50 per share after the subscription period ends, a measure with which the company also aims to broaden its shareholder base. The booking of the new securities will occur following entry of the capital increase in the commercial register.
