The fund will issue 2.07 million new shares at a price of EUR5.74 a share pursuant to its share purchase scheme.
The capital increase will take place on all three markets NEPI shares are listed, namely Johannesburg, London and Bucharest, the fund said in a stock exchange filling. The new shares should be admitted to trading on June 25.
Following the operation, NEPI’s share capital will increase to 225.119 million shares.
NEPI was the first property fund listed on the Bucharest bourse, on a dedicated segment for real estate investment trusts (REITs).
The fund reported a net profit of EUR13.3 million in the first quarter, 18.6% higher on the year. The fund’s contractual rental income doubled to EUR19.76 million.
Friday, NEPI closed at 27.99 lei (EUR6.37) a share in Bucharest, valuing the fund at RON5.12 billion. (EUR1=RON4.3918)