by Property Forum | Investment

Shares in Romanian One United Properties started trading on Monday on the Bucharest Stock Exchange (BVB). 

The developer has raised €52.8 million through an Initial Public Offering that took place between June 22 and July 2. 

The shares were sold at a price of 2 lei per share and were reached a high of 2.14 lei in the first minutes of trading. The market capitalization exceeds €580 million. 

“We believe in the potential of our capital market, and we want to take the opportunities of the listing in order to accelerate the Group's strategy investments in sustainable premium developments in exclusive areas of Bucharest and other regions," said Victor Căpitanu, Co-Founder of One United Properties, in a statement. 

The IPO was carried out through a share capital increase and the developer will use the proceeds to finance new investments. 

In 2020, One United Properties recorded revenues of around €112.9 million and a net profit of €36.5 million. The company is currently developing office, residential and mixed-use schemes in Bucharest and has ongoing investments in Constanța.