The company announced its intention to raise additional equity capital via a placing of up to approximately 28.5m new shares to existing and new investors. It plans to leverage the strong pipeline of acquisition opportunities identified by the company.
Any placing of new shares, which is likely in the near term, is intended to be priced by reference to recent trading levels and the last reported EPRA NAV per share.
The company continues to evaluate a wide array of investment opportunities that fit its strategic criteria, all of which are under exclusivity and at advanced stages of negotiation, and which it expects would be the primary use of the net proceeds of any placing.
In Romania, the company recently added two new joint venture projects in Constanta and Bucharest to its Globalworth Industrial portfolio of logistics/light industrial assets, alongside its pipeline of future office developments in Bucharest and the expansion of its Timisoara Industrial Park.
The company also continues to perform detailed due diligence on other investment opportunities with an aggregate consideration in excess of €300m.
Dimitris Raptis, Globalworth Poland Real Estate NV (WA:GPRP)’s Deputy CEO and Chief Investment Officer, commented: “We have consistently demonstrated our ability to secure attractive investments, primarily by the opportunistic acquisition of assets sourced through multiple channels. Since our entry into Poland in late 2017, we have acquired nearly €1 billion of standing assets in that market.”