English
Shares in RomReal Ltd, the a major investor on the Romanian residential market, were listed on the Oslo Stock Exchange yesterday. RomReal operates in Romania through their own subsidiary, Westhouse Group, a company registered in Romania.
Westhouse Group has offices in Bucharest and Constanta and has invested over 100 million EUR in premium properties in Constanta, Bucharest and Brasov. The company is developing several concurrent projects, including Oasis, a 260 apartment plus 6 villas compound near Lake Siutghiol, Mamaia, a building of 30 apartments, and a complex of 75 apartments in the Dacia area of Constanta.
"The listing of RomReal shares on the Oslo Stock Exchange is in fact a milestone, as we are the first Romanian company to have direct access to the Norwegian capital market," said Kay T. Thorkildsen, Executive Chairman of Westhouse Group.
Westhouse Group was established in 2005 to develop residential projects in Romania. The listing of RomReal Ltd follows the successful completion of a new public offering of 12,100,000 shares for 25 NOK, bringing the total to 49,200,000 shares. The company is listed as ROM and has some 550 international shareholders.
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