Romania’s Financial Supervisory Authority (ASF) has approved the listing prospectus of One United Properties. The developer aims to sell a 10% stake in an Initial Public Offering (IPO) carried out on the Bucharest Stock Exchange.
The offering will run for 10 days starting June 22 and the company will issue around 130 million shares at a price of 1.93 to 2.12 lei per share. Institutional investors will have a 60% share in the offering, while the rest will target retail investors.
“Half of the retail investors' part will benefit from a guaranteed allocation of up to 100,000 shares, in the first-come, first-served system, the minimum investment being 2,500 shares. The other half of retail investors will have a pro-rata allocation and will benefit from a 3% discount for subscriptions made in the first 3 days. The final price will be set following the bookbuilding process in the part of institutional investors,” said the company in a statement.
The anticipated market capitalization of the company could reach €609 million (around 3 billion lei) following the IPO.The intermediary of the offering is BRK Financial Group, while Swiss Capital will be part of the distribution group.
One United Properties is controlled its co-founders – Victor Căpitanu and Andrei Diaconescu. The company develops residential, office and mixed-use schemes.
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