(Alliance News) - Globalworth Real Estate Investments Ltd on Friday said it has raised EUR264.3 million though a share placing to execute on the acquisition and development opportunities.
The Romania and southeast Europe-focused company said it has placed 28.6 million shares at a price of EUR9.25 each. The issued shares represent 15% of the company's existing share capital, it said.
Globalworth shares were trading 2.6% lower on Friday in London at EUR9.25 each, giving it a market capitalisation of EUR1.84 billion.
Following the admission, the company will have 222.4 million shares overall. Jefferies was acting as joint global co-ordinator & joint broker and JP Morgan Cazenove and UBS were acting as joint global co-ordinators in connection with the placing.
"We are delighted with the success of this oversubscribed capital raise and the support from both existing and new shareholders. This additional capital will help us to execute on the attractive acquisition and development opportunities that we have already identified and enhance our well-established platform," said Globalworth Deputy Chief Executive & Chief Investment Officer Dimitris Raptis.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Globalworth (GWI)