New Europe Property Investments (NEPI), the most active real estate investment group in Romania during past years, announced that it is in the process of raising 40 million in a rights issue to existing shareholders. The rights issue is underwritten, which means that it is guaranteed to be successful.
"The fact that we were able to agree an underwriting agreement for our rights issue at a premium to net asset value per share illustrates confidence in NEPI to continue to perform well in the execution of its strategy to provide above market growth in cash dividends to shareholders in difficult economic circumstances. Funds raised will be used for further acquisitions and investments in Romania."said Martin Slabbert, CEO of NEPI.
On 20 June 2011, the Company was admitted to trade on the regulated market of the Bucharest Stock Exchange. The Bucharest Stock Exchange is a regulated European market that makes the Company's shares accessible to Romanian investors.