Realty Trust NEPI Gets EUR40M In Share Capital Hike
South-African realty investment fund New Europe Property Investments (NEP.RO) on Monday announced it has drawn EUR40 million from shareholders and investors within a share capital increase, and the money could be used for new purchases in Romania or the repayment of loans.
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.
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