Residential REIT Meta Estate Trust completes third private placement before IPO at BVB

Meta Estate Trust, a holding–type company that focuses on investments in the local residential sector, announced that it completed the last private placement before the IPO planned for the first quarter of 2022 on the Bucharest Stock Exchange (BVB) and the listing of its shares on BVB’s AeRO platform.

The company hasn’t disclosed details related to the private placement, except for the target size of individual contributions (EUR 20,000 to EUR 1 mln), but in September, the shareholders approved a capital increase of RON 36 mln (EUR 7.2 mln) to match its third private placement.

“The investors who will participate in the private placement will benefit from a 10% allocation in preferential shares bearing a preferential dividend,” according to the terms of the private placement.

Earlier this year, Meta Estate raised RON 19 mln and EUR 20 mln - some EUR 8 mln - in other private placements.

The IPO next year is planned to bring the company’s capital in the region of EUR 25 mln.

Currently, Meta Estate Trust invested EUR 8 mln in residential projects in first-tier Romanian cities.

The objective of the Meta Estate Trust management team is to reach a targeted return projected as an annual average of approximately 15% in the first years.

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