Globalworth issued 10.7 million common shares for EUR 5 price per share and will be traded under the symbol of GWI, shows a press release of the investment fund.
The founder of Glowalworth invested EUR 15 million to the initial public offer, the company said. The fund aims for investments in Romania, Southern-Eastern Europe and CEE.
"The combination between yield and capital appreciation will provide to the investors a very attractive profile, risk adjusted, resulting from the implication of the company in commercial real estate assets, rented mostly to multinational corporations and financial institutions. The investors will also benefit from the substantial discount compared to the market value of the initial portfolio", has declared in the release Dimitris Raptis, deputy general manager and executive investment manager of Globalworth.
The businessman Ioannis Papalekas, the owner in Romania of assets such as former City Mall and the office towers Cathedral Plaza and Tower Center, has founded in February this year the Globalworth Real Estate Investments, cwith the intention of listing it on the AIM market and doing investments mostly on the Romanian market.
The company, entirely owned by the Greek businessman was registered in Guernsey Island. Dimitris Raptis eis also involved in several real estate projects in Romania, including French Village.
Non-executive board of Globalworth Real Estate Investments includes Eli Alroy, former head of the real estate developer Global Trade Center (GTC) and the businessmen Geoffrey Richard Miller, David Morris Kanter and John Richard Whittle.
The investments will aim existing or pipeline projects, but also distressed properties that can be transformed in performing and sellable assets. The company also intend to use for its investments funds attracted from the banks. (source: econonomica.net)