The Romanian Financial Supervision Authority (ASF) approved in the meeting of Wednesday, June 16, the Prospectus for the initial public offer for sale of shares, to later be listed on Bucharest Stock Exchange, by major local developer One United Properties.

The IPO will start on June 22 and will run until July 2, 2021. 130,007,085 shares, accounting for 10% of the final number of shares, will be issued at a price ranging between RON 1.93 and 2.12 per share, Bursa.ro reported.

Consequently, One United expects to raise RON 263 mln, or about EUR 54 mln - pricing the company at up to RON 2.63 bln (EUR 540 mln).

60% of the public offer is addressed to a tranche of institutional investors, while the remaining 40% to retail investors.

Recently, the developer announced that it had raised EUR 50 mln from Swiss and international investors through a Swiss-registered vehicle, and the money will be used for real estate developments locally.

andrei@romania-insider.com

(Photo source: the company)