Johannesburg Stock Exchange (JSE) listed Polish property group Echo Polska Properties (EPP) raised approximately ZAR2.2 billion (around €150 million) in an accelerated bookbuilding through the placing of app. 119 million new shares at a price of ZAR18.50 per share. Capital will be used to previously announced acquisitions and for further M&A opportunities in the retail segment within Poland.
EPP is a Dutch dual-listed REIT, which invests in commercial retail, office and industrial properties throughout Poland. It has a portfolio of nine office and fifteen retail properties with a total of 627,000 sqm of GKA located in 17 cities across Poland as well as two retail development sites in Warsaw.
