Romanian developer One United Properties announces new project on first IPO day
On the first day of its 10% IPO carried at Bucharest Stock Exchange (BVB), Romanian developer One United properties announced that it purchased a EUR 15 mln plot of land near Tei lake in northeastern Bucharest to develop a new residential project. The seller was the local businessman, former tennis player Ion Tiriac.
The building permits were already issued for a design named One Lake Club, the company announced to investors.
The first 26 mln of the 130 mln shares put up for sale under the IPO, namely the first tranche allocated to small investors on a first-come, first-served basis, was subscribed within 40 seconds.
Overall, One United Properties aims to raise up to RON 274 mln (EUR 55 mln) with the 10% IPO.
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