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June 26, 2022

NEPI wants to draw EUR 80 M through capital increase for investments in Romania and Serbia

NEPI, the South African investment fund, wants to draw EUR 80 M through a capital increase made through issuance of shares, in order to finance the acquisition of commercial centers Aurora Shopping Mall Buzau and Alba Iulia Strip Mall, a mall in Serbia and other developments.
“The capital increase depends on the price acceptable for NEPI, and a part of the funds will be used for the financing of the acquisitions made. (…) The revenues will be used to finance the acquisitions recently announced by the company, namely Aurora Shopping Mall and Alba Iulia Strip Mall in Romania, and Kragujevac Plaza Shopping Mall in Serbia. The leftover sum from the capital increase will be partially used to finance future development projects, expansion and acquisitions, if acceptable terms are agreed,” a NEPI communiqué remitted to the Bucharest Stock Exchange informs.
The Fund has investments of over EUR 460 M in Romania, in new projects or expansions of existing projects, the total rentable surface on completion being estimated at 250,000 square meters. NEPI’s most important projects in Romania include the Mega Mall located in Bucharest’s Pantelimon neighborhood, with a total rentable surface of 70,700 square meters, whose opening is scheduled in the second quarter of 2015, and Timisoara Shopping City, which has a rentable surface of 80,000 square meters and is in process of obtaining the necessary permits and of being rented.
NEPI, one of the most active investors on the local market, owns retail and office space projects in Romania, the most important of them being Ploiesti Shopping City, City Park Constanta, Vulcan Value Center Bucharest and Lakevie.

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