NEPI raises EUR 28 mln in equity from Johannesburg and London markets after BSE listing

New Europe Property Investments NEPI is in the process of completing a private placing of shares on in Johannesburg and London to the value of EUR 28 million. The company’s shares started trading on the Bucharest Stock Exchange on June 20th. NEPI is the first real estate investment company listed on the BVB.

“Although the stock market in Romania is relatively small, it will grow in time. NEPI’s listing in Bucharest would make the share more accessible to Romanian investors that are looking for an alternative investment denominated in Euro in a transparently managed group offering attractive cash dividends”, said Martin Slabbert, CEO of NEPI. The listing was intermediated by Intercapital Invest and BCR.

The Company is also listed on the main board of the Johannesburg Stock Exchange (South Africa) and the AIM market of the London Stock Exchange. 

Subsequent to the private placing, which is expected to further improve liquidity of NEPI’s shares, NEPI’s market capitalization will be in excess of EUR 300 million, making it the 10th largest company listed on the regulated market of BVB.

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“Following the current private placing, we have adequate capital to fund the developments and re-developments in our current portfolio.  We will return to the market for further capital if we identify further investments of interest,” said Martin Slabbert, CEO of NEPI.

The group’s portfolio in Romania includes 27 properties and is focused on acquiring properties with reliable multinational tenants generating Euro based income.

The most recent investments of the group are Floreasca Business Park (December 2010), the remaining part of the Auchan Shopping Center in Pitesti (May 2011), an extension of Promenada Mall Braila (April 2011), the completion of a refurbishment of an office building in Brasov (June 2011) and the acquisition of retail development land in Ploiesti and Brasov (1^st quarter of 2011).