Thus, EUR1.5 million from a loan worth EUR8.8 million will be compensated by issuing 616,500 shares, while the remaining EUR7.36 million will be compensated through an emission premium.
Sonae Sierra bought River Plaza in 2007 for EUR42 million, marking the Portuguese company’s entry on the Romanian market. The mall has a surface of 12,000 sqm.
The company plans to launch another shopping center in southern city Craiova, with an investment of EUR100 million. Construction is set to start in June.
Sonae Sierra holds 49 shopping centers in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil. (EUR1=RON4.2517)