Echo Polska Properties raises capital by 150 million euros
During accelerated bookbuilding on the Johannesburg Stock Exchange, Echo Polska Properties has acquired 2.2 billion ZARs, or about 150 million euros. EPP placed 118,918,918 new shares at a price of Rs 18.50 per share. Capital will be used for acquisitions in the commercial property sector.
“This is a tremendous success that confirms that the strategy adopted by Echo Polska Properties is trusted by investors,” said EPP President Hadley Dean, commenting on the results.
Following the issuance of new shares, scheduled for April 13, 2017, the EPP share capital will consist of 704,970,220 shares.
The co-ordinator and co-leader of the demand was South Africa’s Java Capital.
Press Release by Echo Polska Properties.