FSA greenlights One United Properties prospectus for share capital increase that targets EUR 70 mln raise

One United Properties (BVB: ONE), the leading Romanian green developer of residential, mixed-use, and office real estate, announces the publication of the prospectus for the share capital increase following its approval by the Romanian Financial Supervisory Authority. The Group aims to raise EUR 70 mln to finance the Company's next growth phase by issuing 1.750.000.000 new shares.

"Since becoming a public company, we have consistently delivered on the promises made to our investors, with a clear focus on expanding our business. Our successful IPO in 2021 was a pivotal moment that enabled our strategic expansion into the premium residential segment, exemplified by the remarkable success of One Cotroceni Park. Similarly, our office division, which now boasts a 95% lease ratio, has fulfilled our commitment to investors, driven by our belief that Bucharest deserves world-class office spaces to establish itself as a leading European work hub. Today, our construction sites span 12 developments, comprising more than 4,000 residential units and nearly 45,000 sqm of office and commercial spaces. Our vision for the future includes entering the affordable premium housing segment, where we see significant growth potential. The planned share capital increase is the next milestone for this growth, and we invite our esteemed shareholders to participate and increase their investment in One United Properties by approximately 10% of their existing holdings. This capital infusion accelerates our ambitious growth plans, positioning us to double our business within the next five years and potentially quadruple it over the next decade while maintaining our LTV at a prudent level," said Victor Capitanu, co-CEO of One United Properties.

The share capital increase operation will be organized in two stages. In the first stage, the shareholders who purchased ONE share by the date of guaranteed participation, August 2nd, 2024, will be entitled to subscribe the new shares, respecting the preference rights, at the nominal value of 0.2 lei. The preference rights, having symbol ONER03, were loaded in the shareholders' accounts on August 7th. The preference right will be tradeable on the Main Market of the Bucharest Stock Exchange’s Main Market between August 9th and 13th. Therefore, those who want to subscribe to new shares but do not have any or sufficient preference rights will be able to buy them at the price set in the market.

The first stage of the share capital increase will start on August 19th and will last for 32 calendar days, until September 19th. To subscribe to one new share in stage 1 of the share capital increase at 0.2 lei, an investor must hold 2,1879186 ONER03 preference rights. The shares that remain unsubscribed during the first stage might be offered in a private placement at a price established by the Board of Directors decision, considering the price formed during the bookbuilding process.