• The operation involves a stage in which subscriptions are made on the basis of pre-emptive rights, the rights to be traded on the BSE
The real estate developer One United Properties (ONE) started, yesterday, the capital increase operation through which it wants to attract up to 70 million euros, by issuing a maximum of 1.75 billion new shares, according to a report of the company published on the website of the Bucharest Stock Exchange (BVB).
The operation includes two stages, in the first one the subscriptions are made based on the ONER03 preferential rights, at the nominal value of the shares of 0.2 lei. To subscribe to a new share an investor must hold 2.1879186 pre-emptive rights. The rights will be tradable on the Main Market of the Bucharest Stock Exchange between August 9 and 13, and the first stage of the capital increase will end on September 29.
The shares that remain unsubscribed in the first stage may be offered in a private placement at a price set by the decision of the Board of Directors, taking into account the price formed during the bookbuilding process, it is mentioned in a press release of the company two years ago weeks.
According to the document, 60% of the capital that the company intends to attract has already been secured by the two co-founders and executive members of the Board of Directors, Victor Căpitanu and Andrei Diaconescu, as well as by the President of the Board, Claudio Cisullo, and the member Council, Marius Diaconu.
The capital raised in the capital increase operation will be used to expand One United Properties' market segment beyond luxury, high-end and premium residential developments and accelerate the development of the affordable premium housing segment, which targets the middle class from Bucharest.
The company is in the process of negotiating land to support the development of 10,000 residential units exclusively for this sub-segment, having signed the first memorandum of understanding for a 21-hectare plot of land, which will host 5,000 units, it is also stated in communicated. The real estate developer will present, on August 28, the results obtained in the first six months of this year.
For 2024, One United Properties has budgeted a turnover of 1.75 billion lei, 15% more than last year, and a gross profit of 617.5 million lei, up 16%. The stock market valuation of the real estate developer amounts to almost 2.4 billion lei.
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