Globe Trade Centre wants to increase the company’s base capital through a new 140 million share issuance and its top management is turning to shareholders for approval. The money would be used to fuel new acquisitions of existing, income-generating office projects, as well as select development schemes.
Following an ownership change in 2014, GTC revised its medium-term strategy to increase its focus on acquisitions and development on CEE’s biggest markets, including Warsaw, Bucharest, Budapest and Belgrade. “We believe that driven by EU’s quantitative easing program, the local property market continues to provide unique acquisition opportunities,” said Thomas Kurzmann, CEO of GTC, adding that the company’s new strategic shareholder, Lone Star, fully supports the revised strategy.
