NEPI runs an 80 mln euro equity raising to fund acquisitions in Romania and Serbia
The South African investment fund has announced an equity raising of roughly 80 million euro through an accelerated bookbuild opened on October 22, 2014, at 09h00 (South African time), NEPI reserving the right to close it at any time. Also, the size of equity raise could be increased, depending on demand.
The funds will be used to fund the recently announced acquisitions of Aurora Shopping Mall and Alba Iulia Strip Mall in Romania in Romania and Kragujevac Plaza Shopping Mall in Serbia. In addition to these, the balance of the equity raise will be used to partially finance the company’s future development and extension pipeline, along with possible further acquisitions.
“The equity raise will be offered to qualifying investors through an accelerated book build process (the “book build”) conducted on the JSE. All public and non-public investors (as defined under paragraphs 4.25 – 4.26 of the JSE Listings Requirements) may participate in the vendor consideration placing and only public investors may participate in the equity raise under the Company’s general authority”, states a notification sent to the Bucharest Stock Exchange.
Macquarie First South Capital Proprietary Limited and Java Capital are acting as joint bookrunners and joint lead managers for the equity raise.
NEPI is one of the most dynamic real estate developers in the Romanian market where has a portfolio including a wide range of properties, both in the retail and the office real estate sectors. Mega Mall (Bucharest), Shopping City Targu Jiu and Vulcan Value Centre are the latest development projects in the retail real estate sector from NEPI’s portfolio, which also includes other three new office property projects – City Business Center in Timisoara where the Group has a forward purchase agreement for two additional buildings, The Office Cluj-Napoca where there has been commenced the first of three phases of a joint venture office development and Piata Victoriei Office.
