Romanian real estate developer Impact operates EUR 49 mln private placement

Real estate developer Impact Developer & Contractor (BVB: IMP) wants to raise RON 245 million from investors through a private placement that started on January 4 and will end on January 21, the company announced in a statement.

"The increase in share capital aims to finance the company's development plans and implement the expansion strategy at the national level," reads a resolution of the Impact Council in September last year, Bursa.ro reported.

The subscription in the private placement is made based on the "first come, first served" (FIFO) method based on the subscription form, in lei or euro - in lei equivalent at the exchange rate announced by the National Bank of Romania, valid on the day of the subscription. Swiss Capital mediates the market operation.

For the first nine months of last year, Impact Developer & Contractor reported revenue from the sale of properties of RON 135.35 mln, down 19% compared to the same period last year, while net profit amounted to RON 7.5 mln, 43% lower than in the first three quarters of 2020.

On July 5 last year, Gheorghe Iaciu owned about 60% of the company, while Adrian Andrici owned almost 16% of Impact Developer & Contractor. The market valuation of the real estate developer amounts to RON 1.1 bln (EUR 220 mln).

(Photo source: the company)