JSE-listed EPP successfully completed an equity raise of ZAR 1.45 billion equating to approximately €90 million. The Polish retail company will use the equity to fund tranche 2 of its M1 portfolio transaction. The company expects to complete tranche 2 of the M1 transaction by June of this year. The deal is expected to add an additional 184,000 sqm of retail GLA to EPP’s portfolio.
“We’re pleased with the market’s faith in our growth plans. This equity raise provides us with more liquidity ahead of the next step in our M1 transaction, but more importantly, it will give us the ability to continue to deliver strong returns to all of our stakeholders,” said EPP CEO, Hadley Dean.
“Our strategy to invest throughout Poland’s wealthiest cities, is continuing to be fruitful, especially in the light of Poland’s expanded social programmes, sure to fuel consumer spending in the next year,” said Dean.
The equity raise was offered to investors through an accelerated bookbuild process on the JSE and LuxSE and adds a new significant new equity investor with a stake of €75 million.
