JSE listed Polish property group Echo Polska Properties raised approximately €150m (R 2.2bn) in an accelerated bookbuilding through the placing of 118.918.918 new shares at a price of R 18.50%. Capital will be used to previously announced acquisitions and for further M&A opportunities in retail segment within Poland.
Hadley Dean, Chief Executive Officer of EPP said: “This is a huge success given that only 6 months ago we raised an additional €100m and it confirms investors’ confidence in EPPs assets, management team and Poland."
Following the new share issue scheduled for 13 April, 2017, EPP’s share capital will amount to 704.970.210 shares.
South African company Java Capital was the book runner of the issue.
