LONDON (Alliance News) - Globalworth Real Estate Investments Ltd on Thursday said it has raised gross proceeds of EUR53.8 million in its share placing, exceeding the amount it had initially expected to raise.
Last week, the company said it would issue around 5.8 million shares at EUR6.00 each in order to raise EUR35.0 million. However it revealed on Thursday that it had significantly exceeded the amount raised by EUR18.8 million.
York Capital Management Global Advisors LLC subscribed EUR25.0 million for 4.2 million shares through its affiliate York Global Finance Offshore BDH (Luxembourg) Sarl, increasing its shareholding to 15.4 million shares representing 25% of the company's issued share capital.
Oak Hill Advisors (Europe) LLP subscribed EUR7.2 million from 1.2 million shares through certain funds and separate accounts it manages, increasing its shareholding to 8.4 million shares representing 13% of the company's issued share capital.
Meanwhile, Lenuta Ltd, which is owned by Globalworth's Deputy Chief Executive and Chief Investment Officer Dimitris Raptis, subscribed EUR195,000 for 32,500 shares, increasing Raptis's shareholding to 193,348 shares representing 0.3% of the company's issued share capital.
Globalworth said last week that the funds would be used for new investments, including a portfolio in Romania, plus funding for its ongoing development projects.
Shares in Globalworth were untraded on Thursday, last quoted at 5.80 pence.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Globalworth (GWI)