Romania's Impact Developer & Contractor will increase its share capital within one year in a bid to support its pipeline of residential projects in Romania.
Impact shareholders have voted a proposal through which the board of directors will be allowed to increase the share capital through one or more issuances of ordinary shares, with a nominal value of up to 193,750,000 lei (€39.2 million).
“Along with these resources, we will continue to use both the benefits of access to the capital market, where we have the potential to issue new bonds, and bank loans, so that we can immediately execute our ambitious medium- and long-term development plan,” said Constantin Sebeșanu, CEO Impact Developer & Contractor, according to a company release.
The company aims to extent its portfolio of sustainable residential projects across Romania. Impact has ongoing developments in Bucharest, Constanța and Iași.
Impact shares were down 1.68% to 0.58 lei at the end of Friday trading on the Bucharest Stock Exchange (BVB).
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