The shareholders of One United Properties (BVB: ONE), the most active real estate developer on the Romanian market, approved on April 26 an operation to increase the share capital with cash contributions or by issuing convertible bonds, according to a company's note to investors.

"One United Properties intends to raise up to RON 750 mln (EUR 150 mln) to fuel the growth strategy and allow the company to take advantage of opportunities in the market. The general meeting of shareholders has delegated the final decision on the type of operation to be carried out to the newly appointed Board of Directors. The planned capital increase will be the fifth for the company," according to the document.

The company has been listed on the Bucharest Stock Exchange (BVB) since July 2021, where it is included in the basket of the BET index. This year, the company's shares appreciated by 8%, and the company has a market value of RON 3.6 bln (EUR 720 mln).

One United had a net profit of RON 506 mln (EUR 10 mln) in 2021, up from RON 176 mln in 2020. Revenues have more than doubled from 2020 to RON 1.1 bln in 2021.

The projects envisaged by One United are expected to generate EUR 3.6 bln revenues and EUR 90 mln gross profits. 

andrei@romania-insider.com

(Photo source: the company)