Shopper Park Plus Nyrt has successfully closed its Secondary Public Offering on the Budapest Stock Exchange, raising more than €100 million in what marks the largest IPO/SPO the exchange has witnessed in 28 years. The transaction was oversubscribed due to strong investor demand.
The success was enabled by three reputable Central and Eastern European financial investment service providers: Erste Group Bank AG, Concorde Értékpapír Zrt., and Wood & Company as distributors, with Hümpfner & Associates as legal advisor. "The subscription of more than €100 million is driven by an expected high euro dividend yield, favourable asset yields on investments in Poland and a declining interest rate environment in developed markets," the company stated.
As a result of the capital increase, SPP issued 9.3 million Series A ordinary shares with a nominal value of €0.1 per share and an issue value of €10.80 each. Investor confidence was boosted by the low volatility of the share price and the company's dividend payments of over 7% in 2024 and 2025.
Funds managed by Adventum remain the largest shareholders of SPP. The company will use the proceeds to acquire eight retail parks in Poland, making it the owner and operator of 30 food-anchored retail parks across the region - 14 in Hungary, 8 in Poland, and 4 each in the Czech Republic and Slovakia.
This transaction brings SPP closer to its goal of becoming the regional market leader in retail park operations across Central and Eastern Europe.
