Leasinvest RE announced the public offering of new shares within the framework of a capital increase in cash with preferential subscription rights of approx. € 60m. The € 10m discrepancy between the reported figure and the € 50m we were banking on will notsignificantly alter our estimates. Hold reiterated. News: Friday after market, Leasinvest RE announced the public offering of new shares within the framework of a capital increase in cash with preferential subscription rights of approximately € 60m. This capital increase will be used to further concretize its strategic reorientation in 2013 and to realize a better net current result than in 2012, o.a. taking into account the successful realization of the current negotiations for the acquisition of a number of new projects. Our View: After the company’s debt ratio increase and accordingly management’s persistent hinting for equity strengthening, we did already bank on a € 50m equity increase in 1H13. Today, the announced amount is a little higher, but this difference will not significantly affect our forecasts going forward. We currently make no changes to our model as the conditions are yet to be announced and we’ll await the outcome of the transaction. Conclusion: We maintain our Hold recommendation and € 73 TP.