Hagag Development Europe has officially opened the trading day on Tel Aviv Stock Exchange (TASE) on October 24. The property developer has raised around €28 million after going public last August on TASE.
“Our plans for Bucharest are very ambitious and we intend to further strengthen our local presence both in terms of portfolio and the market segments we are operating on. I am positive that the capital raised so far and the actual access to the international capital market will support our strategy and help us in expanding the volume and dimension of our future projects,” said Yitzhak Hagag, Co-founder and Shareholder of Hagag Development Europe.
The company started trading on August 21, under the stock symbol HGGE. In just two months since the listing shares price has increased by 43% to around ILS 1,470 (1.95 RON).
Hagag currently has a development pipeline of offices and apartments in Bucharest, targeting the premium segment.
