A United Property has announced its intention to raise up to € 100 million in shares – Romanian Journal

Get real-time updates directly on your device and subscribe now.

One United Properties, a green developer of Romanian residential, multipurpose and office real estate, has announced its intention to raise up to € 100 million in shares from investors in its equity increase business. This is the shareholders’ meeting on April 26, 2022. The planned capital increase will be the fifth of One United Properties, which went public on the Bucharest Stock Exchange’s main market in July 2021 after successfully raising € 52.8 million through an IPO.

“”2021 is the highest year in Romania’s residential real estate history, with 49% increase in the number of residential units sold in Romania and 40% increase in the number of residential units sold in the Bucharest and Ilfob regions. Did. At One United Property, revenue from the housing sector outperformed the market, providing shareholders with a record 36% net income. This year, we have a good opportunity to further expand our landbanks to help bring consistent benefits to our stakeholders over the next few years. Therefore, we are ready to approach the market and raise new equity from investors on the Bucharest Stock Exchange.“” Said Victor Căpitanu, Co-CEO of One United Properties.

The funds raised will drive One United Properties’ growth strategy and enable the company to seize more opportunities in the market. According to the company’s strong existing pipeline, new equity will be invested preferentially in new developments and current cash positions will be used to accelerate the delivery of ongoing developments. The company’s focus is to prioritize investment in Bucharest, where most of the pipeline is located.

“”We finished 2021 with historic best results, driven by net cash revenue from the IPO and positive cash flow generated from sales and leasing activities, and gained a remarkable cash position of € 103 million. did. We will invest this capital in 2022 to accelerate the delivery of ongoing development. Today’s markets have good growth opportunities and are determined to benefit from them. Still, we only want to enter the market if the situation is right. After deciding and approving the capital increase at the general meeting of shareholders, we will carefully select and expand the pipeline, act for the benefit of our shareholders, and strive to raise appropriate funds. Price level for the next 12 months,“Andrei Diaconescu, Co-CEO of One United Properties, added.

A United Property will issue up to 330,017,986 new shares in a two-step equity increase project. As a first step, existing shareholders will be given priority to purchase the newly issued ONE shares. Shares that remain unsubscribed in the first phase will be offered to other investors in the market through private placement. After approval at the general meeting of shareholders, the Board of Directors will decide the timing of operations.

n 2021, One United Properties Recorded revenue was € 228 million, an increase of 105% compared to 2020 results. This is a historic milestone for the company. Gross profit surged 188% to reach € 123 million. Revenue generated by One United Properties in the housing sector increased by 58% compared to 2020 to reach € 143 million.

In 2021, 699 apartments, 926 parking spaces, 69 commercial spaces and other units were sold and pre-sold for € 202.2 million, an increase of 115% compared to 2020. Later this year was One Cotroceni Park, which sold 479 of the 868 homes available to the group. Wanco Troseni Park is expected to be completed in the fourth quarter of 2023. This is the largest development of one United property to date for the middle and high income customer segment. A United Property has announced its intention to raise up to € 100 million in shares – Romanian Journal

Back to top button