News Article Adventum Hungary investment IPO retail
by Property Forum | Investment

Shopper Park Plus Zrt., a regulated real estate investment holding company that owns and operates a portfolio of 18 retail properties, aims to float new ordinary shares and to list its ordinary shares in the BSE Premium category. Retail investors can subscribe for shares from October 9, 2023, with OTP Bank Nyrt. and Concorde Értékpapír Zrt. as distributors. Retail share subscription opens on October 9. 2023. In addition to professional investors, Hungarian retail investors will also be able to participate in the Budapest Stock Exchange’s (BSE) first euro-based initial public offering.

In the longer term, Shopper Park Plus plans to become one of the leading players by owning and operating one of the largest retail shopping park portfolios in the Central and Eastern European region. The company has a portfolio of 14 properties in Hungary and, through subsidiaries, 4 properties in the Czech Republic, acquired in June 2022. The total gross lettable area of more than 320,000 sqm is shared by nearly 600 retail units with an average occupancy rate of over 95%. 

"Remarkable growth potential and stable cash flow are likely, which, in addition to professional investors, may also be attractive to retail individuals," said the founding partner of Adventum Investment Fund Management Zrt., a member of the Board of Directors of Shopper Park Plus. According to Kristóf Bárány, in the longer term, the strategy of Shopper Park Plus is to expand to other countries in Eastern Central Europe while further strengthening its position in the two existing markets.

The ongoing efforts to streamline the operation of the facilities acquired last year shall have a positive impact on profitability: as part of the complex green strategy, the aim is to achieve 30% energy savings at the portfolio level compared to the level at which the properties were acquired through the energy efficiency measures and investments made so far.

The majority shareholder of Shopper Park Plus is an investment fund managed by Adventum Investment Fund Management Zrt. which has extensive experience in the commercial real estate market. The investment funds managed by Adventum Group own a total of 700,000 sqm of office and commercial real estate, representing assets under management of over €1 billion.