8th Jun 2018 18:37
LONDON (Alliance News) - Globalworth Real Estate Investments Ltd said Friday that its Polish unit Globalworth Poland Real Estate NV intends to raise EUR450 million through the issue of new shares.
The company owns around 72% stake in Globalworth Poland Real Estate. The Polish company intends to use the net proceeds from share placing to purchase certain new properties, repay certain loans and for general corporate purposes.
Globalworth Real Estate Investments has agreed to subscribe for new ordinary shares by placing a subscription of a minimum of EUR300 million. Following the share placing, the Polish unit will repay loans to the company and, as a result, the company's net investment in the Polish unit will remain the same.
Shares in Globalworth Real Estate Investments closed at EUR9.25, up 1.1%.
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