“Up to this moment, expression of interest to subscribe shares for a total amount of approximately EUR34.3 million in the Private Placement has been received from various investors”, One United Properties said in a stock market report.
Raiffeisen Bank International and UniCredit are acting as Joint Bookrunners in the Private Placement. Swiss Capital is acting as Co-Bookrunner.
“The Private Placement represents the second phase of the share capital increase operation which was approved by decision of the Board of Directors no. 26 issued on May 5, 2022, on the basis of the authorization granted by decision of Extraordinary General Meeting of Shareholders no. 62 issued on April 26, 2022,” as per the report. It targets local and international institutional investors.
On July 29, 2022, One United Properties announced the closing of Phase 1 of the share capital increase operation, following which it raised RON71 million from investors. During Phase 1, the existing shareholders subscribed to newly issued shares based on ONER01 preference rights. Investors have subscribed a total 50 million shares. During Phase 1 of the share capital increase, the subscription price for a new share was set at a maximum price of RON1.42, but the final subscription price for a new share subscribed during Phase 1 will be published after the closing of Phase 2. In case the final subscription price in Phase 1 is set as lower than the maximum subscription price, then the company will return to the investors the difference between the maximum price and the final price. Phase 1 of the share capital increase, which ran between June 27 and July 27, was intermediated by BRK Financial Group.
The ongoing share capital increase is the fifth capital raise for One United Properties, which in July 2021 listed its shares on the Main Market of the Bucharest Stock Exchange after having successfully raised RON252 million in an initial public offering (IPO). In the first year since the IPO, investors traded ONE shares amounting to over RON362 million, making the company the ninth most traded issuer on the Bucharest Stock Exchange between July 2021 and July 2022.
The capital raised in the share capital increase operation will fuel the growth strategy of One United Properties, allowing the company to seize additional opportunities in the market. The new equity will be invested with priority in new residential developments located primarily in Bucharest.
One United Properties, with a market capitalization of RON3.33 billion, is 29.76% equally owned by OA Liviu Holding Invest and Vinci Ver Holding, two investment vehicles controlled by Andrei Diaconescu and Victor Capitanu.
ONE shares have lost 1.1% since the beginning of 2022, amid deals worth RON158 million.
The company reported consolidated revenue of RON348.7 million for the first quarter of 2022, up 82% from 2021, and a net profit of RON166.4 million.