South African investment fund New Europe Property Investments (NEPI) has raised EUR 40 million from shareholders and investors through capital increase, reads a statement from the company. The capital increase was announced in the second half of October and ended on November 28.

The rights issue was oversubscribed by 48 percent. Of the 14.2 million new NEPI shares which were offered, shareholders applied for a total of 21.1 million.

NEPI has been active on the Romanian market since 2007, and the South-African investment group’s portfolio in Romania includes 27 properties. The most recent investments of the group are Floreasca Business Park, in December 2010, the remaining part of the Auchan Shopping Center in Pitesti, in May 2011, an extension of Promenada Mall Braila, in April 2011, the completion of a refurbishment of an office building in Brasov in June 2011 and the acquisition of retail development land in Ploiesti and Brasov in the first quarter of 2011.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Sxc.hu)