NEPI aims to raise EUR 60 mln for further real estate projects in the region

Newsroom 08/04/2014 | 17:39

NEPI, one of the most active and largest buyers of real estate properties in Romania, announced on Tuesday an equity raising of approximately ZAR 860 million (equivalent to approximately EUR60 million) through the issue of new ordinary shares (the “equity raise”).

The equity raise is subject to pricing acceptable to NEPi and the new shares will be issued under NEPI’s general authority to issue shares for cash, as approved by shareholders at the annual general meeting of the Company held on Thursday, 2 May 2013.

The proceeds of the equity raise will be used to partially fund the Company’s future development pipeline and
potential acquisition opportunities within Romania and the broader Central Eastern Europe region.

The equity raise will be offered to qualifying investors through an accelerated book build process (the “book build”),
and only public investors (as defined under paragraphs 4.25 – 4.26 of the JSE Listings Requirements) will be eligible
to participate, subject to a minimum application of ZAR1 million per investor.

NEPI’s most recent acquisition in Romania was that of City Park Mall in the Romanian seaside city of Constanta for EUR 81 million. The seller was developer Neocity Group.

In 2013, NEPI bought The Lakeview office building in Bucharest, for some EUR 61.7 million.

Its portfolio in Romania includes Promenada Mall Brăila, Ploieşti Shopping City, Retail Park Auchan Piteşti, Deva Shopping Centre, Severin Shopping Center, and the office buildings Floreasca Business Park, The Lakeview in Bucharest and City Business Centre Timişoara.