Romanian Impact Developer & Contractor aims to raise up to €50 million through a private placement at a price of RON 0.70 per share.
Last August, the developer’s shareholders approved a plan to issue up to 775 million new shares in a bid to finance the development of new residential projects.
The 6-year strategy of Impact features the development of 1.25 million sqm of residential projects with an estimated market size of around €1.4 billion. The company has a land bank of 73 hectares in Bucharest and regional cities. At present, Impact is developing residential units in Bucharest, Constanța and Iași.
The company said last September it was looking to develop over 10,000 homes in the affordable segment by 2027.
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