The first-ever euro-based share issuance on the Budapest Stock Exchange has successfully been concluded. Through an initial public offering (IPO), Shopper Park Plus raised a total of €37.2 million in capital, placing its shares into the BSE Premium Category. The company manages a significant retail real estate portfolio in the region, comprising 18 units. It aims to become the owner and operator of the biggest shopping park in the region in the medium term, and going public could do a lot to help it achieve this goal.
This IPO surpassed expectations: the sale closed with an oversubscription of 67% from retail investors and 78% from institutional investors. The company finally achieved a capital increase of €37.21 million. To start with, there are 11,577,618 Shopper Park Plus shares with a total value of €125 million at the introductory price of €10.8.
Shopper Park Plus operates as part of the Adventum Group, a defining actor in the Eastern Central European real estate market. It currently operates 18 retail properties in the region. The company’s portfolio includes four units in the Czech Republic and 14 units in Hungary. These units have a total gross floor area of more than 320,000 sqm for rent, with space for nearly 600 businesses.
"We started the preparatory processes just after the acquisition in 2022 to be able to enter the company, with its retail shopping park portfolio, into the BSE Premium Category during this year. Going public on the capital market lends additional transparency to operations, while the status of a regulated investment company, which we will be striving to attain after the successful entry to the Exchange, also provides tax benefits. In the long term, we are committed to making Shopper Park Plus one of the most significant retail park portfolio owners and operators in the Central Eastern European region," said Kristóf Bárány, chairman of Shopper Park Plus during introductions.
