Italian property company Beni Stabili SpA said in a statement that its board approved a sale of 7.04% of the company’s share capital to Italian and international investors.

The company will also sell convertible bonds for €175m, expandable to as much as €225m, according to the statement.

Beni Stabili’s board will be asked to approve a capital increase related to the convertible bond sale, according to the statement.

bloomberg.com