This financing stage is part of the company’s preparation process in view of listing on the Bucharest Stock Exchange in the first quarter of 2022.
The funds raised will be used to purchase apartments under construction in key cities in Romania, and to conclude partnerships with real estate developers, mostly local developers.
The private placement started on July 8 and a total 20 million new shares were subscribed by 65 investors, natural persons and legal entities, at a price of RON1.05 per share. The nominal value of one Meta share was RON1, to which the issuance premium of 5% was added. The minimum value of an individual subscription was RON100,000 and the maximum value was capped at RON4 million per investor.
Upon closing the private placement, the share capital of Meta Estate Trust reaches RON39,1 milioane de lei.
In April 2021, Meta closed the first financing round after raising RON19 million from 30 investors. Meta Estate Trust used the funds raised in the first financing round to purchase 46 properties between April and May 2021 -new apartments in Bucharest, Constanta and Mamaia Nord.
The private placement carried out in July 2021 was brokered by Intercapital Invest S.A. as consultant authorized by the Bucharest Stock Exchange.
Prior to listing Meta shares on the alternative trading system AeRO in the first quarter of 2022, the company seeks to hold a new financing round to raise additional development capital so as to reach a RON75 million share capital level a year earlier than initial forecasts.