Property owner EPP raises R1.45bn for expansion in Poland
JSE and Luxembourg Stock Exchange-listed EPP has raised R1.45bn in capital through share sales so that it can buy a portfolio of shopping centres in Poland, and cement its position as the largest retail landlord in eastern Europe’s largest economy. The company had initially set out to raise €75m (R1.2bn) worth of equity but interest was strong, CEO Hadley Dean said. Dean said the equity raise was undertaken “in part to facilitate the introduction of a significant new equity investor that has committed to investing, through its participation in the bookbuild”. The R1.45bn was raised through the placing of 77,956,989 new shares at a price of R18.60 per share on EPP’s South African share register. The funds would be used to fund its existing developments.
Subject to approval by the JSE and the Luxembourg Stock Exchange, listing and trading of the new EPP shares were expected to begin at the opening of trade on May 3. Following the issue of the new EPP stock, the company would ha...
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