JSE listed Polish property group Echo Polska Properties NV (EPP) raised approximately R2.2 billion in an accelerated bookbuilding through the placing of 118 918 918 new shares at a price of R 18.50 per share.
Capital will be used to previously announced acquisitions and for further M&A opportunities in retail segment within Poland.
“This is a huge success confirming that investors fully trust in Echo Polska Properties’ strategy,” said Hadley Dean, EPP CEO, commenting on the subscription results.
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 bookrunner of the issue.
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