The new company thus intends to raise around RON10.5 million from investors.
The private placement is brokered by BRK Financial Group and ends on December 18, 2020. Star Residence Invest plans an IPO on the Bucharest Stock Exchange within a month of the private placement offer.
The private placement addresses a maximum number of 150 investors and the company’s estimated capitalization is at least EUR2 million.
Star Residence Invest is a Special Purpose Vehicle developed by Impact Developer & Contractor whose purpose is to raise capital in view of acquiring residential buildings suitable for rental mainly in Romania’s university cities such as Bucharest, Iasi, Cluj, Timisoara, Constanta.