Nepi raises twice as much capital

New Europe Property Investments (Nepi) has raised R1bn in capital through an accelerated book-build to finance its first acquisition in Croatia. It initially said it was aiming to raise R500m, equivalent to approximately €36m, through the issue of new ordinary shares. But it raised double that following great demand. The new shares will be priced at R146 each, a 1.15% discount to the February 28 close.

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