One United Properties S.A. has successfully completed the Initial Public Offering for sale of shares as the largest issue in the last four years on the Bucharest Stock Exchange. At its expected market capitalization, One United Properties becomes the third largest Romanian entrepreneurial company listed on the Bucharest Stock Exchange and ranks among the top 10 listed companies according to the IPO market capitalisation.
At the end of the trading day, the final offer price was set at RON 2.00 per share, while the company’s expected capitalization is RON 2.86 billion. One United Properties attracted RON 260 million funds for the capital increase. The company’s shares will be listed under the ONE symbol on the Main Market of the Bucharest Stock Exchange.
The developer’s initial public offering was oversubscribed in both tranches– for institutional and respectively retail investors, with a considerable interest for the company’s shares from the first day of subscription, when the guaranteed allocation retail tranche was fully subscribed in the first 40 seconds. As a result of this increased interest, the company decided to reallocate 3 percent of the total offer from the retail investors’ tranche to the tranche addressed to institutional investors. After reallocation, the tranche reserved for retail investors with pro-rata allocation was oversubscribed 9.2 times and the institutional investors subscribed 63 percent of the total offering. The retail investors participated with 3,207 purchase orders.
Following the closing of the IPO, One United Properties will request the admission to trading of its shares on the Main Market of the Bucharest Stock Exchange, under the symbol ONE. The intermediary of the offer is BRK Financial Group, while Swiss Capital is part of the distribution group. Filip & Company provided legal assistance to One United Properties in relation to the offer and the listing process.
