Meridian plans to complete the initial public offer by mid-July 2013, with Citi as the sole book runner and Erste Bank and Raiffeisen as co-lead managers.

The company did not mention any results, but said Meridian wanted to use more than half of the IPO proceeds to buy a set-up portfolio of 12 properties - office buildings and retail parks - in Bulgaria, the Czech Republic, Hungary and Romania.

The rest is to go mostly on loan repayments and buying new assets around the region, including Poland.

The company said its investment objectives "are to provide regular cash distributions to its shareholders."

It would compete with such companies as the Warsaw-listed developer GTC, present in 10 countries around Eastern Europe and the Balkans, Romania included. (source: