As approved by the shareholders meeting on May 28, Romanian real estate group One United Properties (BVB: ONE) will issue 1.75 billion new shares at a price of RON 0.2 (23% of current market price) preferentially to the company’s shareholders as of August 6, under a capital increase that would bring it RON 350 million (EUR 70 million) aimed at financing further projects.

The existing shareholders at that date will get new shares at a rate of 1 to 2.19, based on the number of existing shares at this moment (nearly 3.80 billion).

During the first phase, the new shares will be offered for subscription to shareholders registered in the company’s shareholders’ registry at the registration date of August 6, 2024, on the basis of their preference rights, as well as to persons who have purchased preference rights from the company’s shareholders registered with the company’s shareholders’ registry at the registration date of August 6, 2024.

During the second phase, any unsubscribed new shares in the first phase shall be offered via a private placement addressed to investors from the European Union.

The company’s market capitalisation is RON 3.3 billion (EUR 660 million).

iulian@romania-insider.com

(Photo source: the company)