Nepi Rockcastle, the largest shopping centre owner in Romania, is primed to emerge from the ashes of the 2018 listed property scandal, as it benefits from the country’s economic boom.

The JSE-listed property group was part of the Resilient group of companies that shared common founders and had cross shareholdings. Nepi Rockcastle, Resilient, Fortress and Lighthouse Capital suffered a mass sell-off in 2018, losing more than R100bn of their combined market value, after allegations by asset and hedge fund managers of share price manipulation, insider trading and using related party transactions to boost profits.

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