The share capital increase was announced in the second half of Octoberm and it concluded on November 28.
Within the operation, the company issued 14.2 million new shares, representing 16% of the current share capital. The new stocks were available at EUR2.8 for UK and Romania-registered investors, and at ZAR30 for South Africa-registered buyers.
“Shareholders are advised that in respect of the (initial number of shares offered), shareholders and/or their renouncees applied for a total (…) 148% of the new NEPI shares available under the rights offer,” the company said in a memo posted on the Bucharest Stock Exchange. However, the share capital was only increased by the number of shares offered, not by demand.
NEPI is the first realty investment fund listed on the Bucharest bourse, in a market segment created especially for Real Estate Investment Trusts (REITs). The fund is also listed in Johannesburg (South Africa) and London, on the AIM segment.
The NEPI portfolio includes retail, office and industrial property in Romania and Germany. In Romania, the fund’s main assets are the European Retail Park unit in Braila and the Floreasca Business Park office building in Bucharest.