NEPI fund raises money elsewhere while five deals recorded on Bucharest Stock Exchange
South African investment fund New Europe Property Investments (NEPI- symbol NEP), the first real estate investment fund listed on the Bucharest Stock Exchange (BVB) from June 20, has also completed a private placement of shares in Johannesburg and London, worth approximately EUR 29 million.
“ NEPI’s listing in Bucharest would make the share more accessible to Romanian investors that are looking for an alternative investment denominated in EUR in a transparently managed group, offering attractive cash dividends”, said Martin Slabbert, CEO of NEPI.
The market responded with only five deals since the start of trading, worth some RON 3,854 (around EUR 900), at a share price of RON 15.15. The company's capitalization was of around EUR 281.9 million, according to data from the Bucharest Stock Exchange. NEPI listed 78.9 million shares on the Bucharest Stock Exchange.
The listing process was intermediated by Banca Comerciala Romana and Intercapital Invest.
The group’s portfolio in Romania includes 27 properties. The most recent investments of the group are Floreasca Business Park, in December 2010, the remaining part of the Auchan Shopping Center in Pitesti, in May 2011, an extension of Promenada Mall Braila, in April 2011, the completion of a refurbishment of an office building in Brasov in June 2011, and the acquisition of retail development land in Ploiesti and Brasov in the first quarter of 2011.
Irina Popescu, firstname.lastname@example.org
Editing by Corina Saceanu, email@example.com
(foto source: Agerpres)