Shopper Park Plus (SPP) shares are now available for subscription, paving the way for the first euro-based listing on the Budapest Stock Exchange (BSE). The shares of the regulated real estate investment pre-trust, which owns a portfolio of 18 retail units, will be offered for sale through OTP Bank and Concorde as distributors.
The 14 properties in Hungary and, through subsidiaries, 4 properties in the Czech Republic, which currently make up SPP's retail park portfolio, represent a total gross lettable area of more than 320,000 sqm. With an average occupancy rate of over 95%, the retail units are shared by almost 600 retail outlets.
In the longer term, SPP aims to become the owner and operator of a significant retail park portfolio in the CEE region and is considering further expansion in CEE.
"SPP's capital market presence will make its operations even more transparent, while the regulated real estate investment trust (REIT) form it aims to achieve following a successful listing will also have tax advantages," stressed Kristóf Bárány, founding partner of Adventum, which manages the investment fund with a stake in SPP through a subsidiary.
