Echo Polska, which listed in September, seeks to raise R1.65bn in new share issue
05 April 2017 - 12:58
Polish shopping mall and commercial properties owner, Echo Polska Properties, said on Wednesday that it planned to raise R1.65bn through the issue of new ordinary shares. The equity raised will be offered to qualifying investors through an accelerated book-build process conducted on the JSE and Luxembourg Stock Exchange. The company, which listed in September, believes it can grow to own €3.5bn in assets by 2022. CEO Hadley Dean has said the company, which has assets worth about€1.4bn, would make three acquisitions a year in Poland until 2022.
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