Romanian real estate developer One United Properties announced on July 2 that it had successfully completed the initial public offering (IPO), the largest of an issuer in the last four years.

The company thus raised RON 260 mln (EUR 52 mln) in exchange for selling 130 mn new shares, or 10% of its total number of shares.

One United Properties becomes the third-largest Romanian entrepreneurial company listed on the Bucharest Stock Exchange (BVB) and enters the top 10 companies listed by market capitalization, the company said in a statement.

After the closing of the offering, the issuer intends to apply for final approval of the BVB for the admission of the shares to trading in the premium category on the spot regulated market of the BVB.

The public offer took place between June 22 and July 2, and the final offer price was set at RON 2.00 per share (RON 1.94 per share for the shares issued during the first three days by the retail investors), compared to a price range set in advance between RON 1.93 and 2.12 per share.

The developer's initial public offering was oversubscribed in both tranches, both in the institutional and retail investors segment, with investors proving considerable interest in the company from the first day of subscription when the guaranteed allocation retail segment was subscribed in the first 40 seconds.

(Photo: Diana Oros/ Inquam Photos)

andrei@romania-insider.com