Your Basket
Your Basket
There are no funds in your basket. To add funds to your basket use the Green Plus Icon wherever you see it next to a fund.
Fund name
Aberdeen American Growth  
Fidelity American  
Schroder UK Mid 250  
M&G Recovery  
Jupiter Merlin UK Growth  
Close Basket Open basket

Login

Login

Register

It's look like you're leaving us

What would you like us to do with the funds you've selected

Show me all my options Forget them Save them
Customise this table
Share   Print      RSS

Globalworth Real Est (GWI)

Globalworth Real Est

Completion of IPO and Admission to trading on AIM
RNS Number : 0950K
Globalworth Real Estate Inv Ltd
25 July 2013
 



For Immediate Release

 

25 July 2013

 

Not for release, publication, distribution or redistribution, in whole or in part, directly or indirectly in, into or from the United States, Canada, Australia, or Japan or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. This announcement does not constitute an offer or invitation to purchase or subscribe for any securities. The securities have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The Company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States.

 

 

Globalworth Real Estate Investments Limited

 

Completion of IPO and Admission to trading on AIM

 

Globalworth Real Estate Investments Ltd ("Globalworth" or "the Company"), a real estate investment company formed to take advantage of investment opportunities in Romania and the broader SEE and CEE regions, today announces the successful completion of its IPO and the admission to trading of its ordinary shares on the AIM Market of the London Stock Exchange ("Admission") under the ticker "GWI".

 

The Company has raised gross proceeds of Euro 53.6m through the issue of 10,718,703 Ordinary Shares to investors, including an investment from the founder of Euro 15m, at a price of Euro 5 (the "Offer Price") per Ordinary Share (the "Placing"). At Admission, the Company has 10,718,703  Ordinary Shares in issue.

 

Panmure Gordon acted as Nominated Adviser, Joint Broker and Joint UK Placing Agent to the Company, and Cantor Fitzgerald Europe as Joint Broker and UK Placing Agent. Sunrise Securities acted as Placing Agent and Rosario Underwriting Services as Israel Placing Agent.

 

Dimitris Raptis, Deputy CEO and Chief Investment Officer of Globalworth, commented: "The combination of yield and capital appreciation will provide investors with a very attractive risk-adjusted return profile resulting from the company's continued investment in commercial real estate assets leased predominantly to multinational corporates and financial institutions on long, triple net leases. Investors will also benefit from the substantial discount to open market value of the initial portfolio being acquired.

 

"With our longstanding track record of value creation in Romania, we are uniquely positioned to take advantage of the compelling investment opportunities that now present themselves in this market, which is still in a relatively early phase of development and is characterised by a lack of supply of high quality commercial property."

 

The Admission Document in relation to the Company's Admission is available on the Company's website at www.globalworth.com

 

 



Enquiries:

 

Panmure Gordon (Nominated Adviser)                             Tel: +44 20 7886 2500

Nicola Marrin

Freddy Crossley

 

Cantor Fitzgerald Europe (Joint Broker)                           Tel: +44 20 7894 7000

Rick Thompson

David Porter

 

Milbourne (Public Relations)                                              Tel: +44 20 7920 2367

Tim Draper

 

 

Notes to Editors:

Globalworth Real Estate Investments Ltd is a real estate investment company formed to take advantage of investment opportunities in Romania and the broader SEE and CEE regions. The company is Guernsey incorporated and registered as a closed-ended collective investment scheme by the Guernsey FSC. 

 

The senior management team will initially comprise Ioannis Papalekas, the founder, who will act as Chief Executive Officer and Dimitris Raptis, Deputy Chief Executive Officer and Chief Investment Officer.

 

Ioannis Papalekas has over 15 years of real estate investment and development experience and has been present in the Romanian market for 12 consecutive years, having created one of the most successful real estate development and investment groups in the Romanian real estate market.

 

Dimitris Raptis has 16 years of experience in the financial services and real estate investment industries with Deutsche Bank. Before joining Globalworth, he was Managing Director and European Head of Portfolio Management for RREEF Opportunistic Investments  and prior to that, he was a senior member of RREEF Real Estate, part of Deutsche Bank's asset and wealth management division and one of the largest managers of real estate assets in the world.

 

The Romanian market offers an attractive real estate investment proposition in the medium-to-long term. Globalworth believe that global investor capital flows will gradually move from markets considered as "safe havens" to more peripheral markets such as Romania and the broader SEE and CEE regions in search of higher yielding investments. As a result, Romania and the broader SEE and CEE regions should, in due course, become more attractive destinations for a wide investor audience. Globalworth anticipates holding an early mover advantage in these markets and benefitting from this gradual shift in investor sentiment.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCEAXXLASDDEFF
 
  • Stay connected with FE trustnet
  • Authorised and Regulated by the
    Financial Conduct Authority
  • © Trustnet Limited . All Rights Reserved.
  • Please read our Terms of Use / Disclaimer
    and Privacy and Cookie Policy.
  • Data supplied in conjunction with Thomson Financial Limited,
    London Stock Exchange Plc, StructuredRetailProducts.com
    and ManorPark.com