The founders and majority shareholders of local real estate developer One United Properties, Victor Căpitanu and Andrei Diaconescu, have further diluted their holdings to 86% after bringing in 24 new investors in the company, most of them Romanian entrepreneurs, Economica.net reported.
“We have brought in more Romanian entrepreneurs in the recent period, which is a relatively cheap method of financing. In any case, it is preferable to bonds. The first bond issue, EUR 20 million that we issued, was fully subscribed by a Polish investor - but it came at a high price. That is why we prefer banks or attracting shareholders in the company,” explained Victor Căpitanu.
The group in developing residential, office, retail, and logistics properties and has a portfolio of ongoing projects and projects in the pipeline worth EUR 1 billion.