Eurocastle Announces doBank IPO Results and Second Quarter 2017 Earnings Call
Guernsey, 12 July 2017 – Eurocastle Investment Limited (“Eurocastle” or the “Company”) today announces that doBank, in
which Eurocastle holds a 50% stake, has reported the pricing of the initial public offering of 34,700,000 shares at €9.00 per
share. This represents 44.35% of doBank’s share capital (excluding 1,750,000 of treasury shares) following full exercise of
the upsize option. These figures do not include up to a further 3,470,000 shares which can be sold as part of the greenshoe
option at the discretion of the Joint Global Coordinators within 30 days following the first day of trading. The shares, which
were sold by Eurocastle and other Fortress affiliates, are expected to commence trading on Friday, 14 July 2017 on the
Mercato Telematico Azionario organised and managed by Borsa Italiana S.p.A. (“MTA”).
The price of €9.00 per share equates to a market capitalisation of doBank of €704 million. Eurocastle’s most recently reported
adjusted NAV for its 50% interest of doBank is €270 million. Following settlement of the offering, Eurocastle and other
Fortress affiliates will retain an 55.65% interest in doBank, or 51.22% should the greenshoe option be exercised in full
(excluding 1,750,000 of treasury shares).