BVB-listed real estate developer Impact splits shares and offers free shares
Romanian real estate developer Impact (IMP) announced that it is offering one free share for every two shares held to reward shareholders, and afterwards, it splits all the shares thus obtained in four - such as to make its shares more…
Andrei Chirileasa · Journalist
· Updated · 1 min read
Romanian real estate developer Impact (IMP) announced that it is offering one free share for every two shares held to reward shareholders, and afterwards, it splits all the shares thus obtained in four - such as to make its shares more accessible to small investors.
The operations were already registered on the BVB's website. The company's market capitalisation is now RON 843 mln (EUR 168 mln), and its shares closed at RON 0.53 on July 9.
The funds capitalised include RON 70 mln capital premiums and RON 62 mln retained earnings - resulting in nearly RON 132 mln - one-third of the ex-post book value (RON 394 mln).
Company's shares trade at more than twice their nominal value (RON 0.25).
"This move aims to generate a positive return that meets the expectations of our investors. Also, through the measure of splitting the shares, we want to become more attractive for small investors, who will thus benefit from more flexibility. The capital market remains the focus of Impact, and we implement best practices in relation to the investors who are with us," said Constantin Sebesanu, CEO of Impact Developer & Contractor, according to Bursa.ro.
(Photo source: Dreamstime.com)
