Bucharest Stock Exchange (BVB) listed real estate developer One United Properties (BVB: ONE) announced that it wants to raise up to RON 500 mln (EUR 100 mln) from investors through a capital increase operation involving cash contribution, which will be submitted to the vote in the General Meeting of Shareholders on April 26, 2022.

This capital increase will be the fifth such operation for One United Properties, which in July 2021 was listed on the Main Market of the BVB after a successful RON 252 mln (EUR 50 mln) IPO.

"This year, we have a good opportunity to continue expanding our land portfolio, which will help us provide consistent revenue to stakeholders in the years to come. Consequently, we are ready to approach the market and obtain new equity from investors on the Bucharest Stock Exchange," said Victor Căpitanu, co-CEO of One United Properties.

He also said that the group ended the year 2021 with "the best result in history."

The capital raised from this operation will be used to invest priority in new developments, while the current cash position will be used to accelerate the delivery of ongoing developments.

The developer focuses mainly on investments in Bucharest, where most of its portfolio is located.

andrei@romania-insider.com

(Photo source: the company)