Pekabex has signed a letter of intent with Eques Investment TFI regarding the creation of a FIZ
Warsaw, 07.07.2023 (ISBnews) – Pekabex has signed a letter of intent with Eques Investment TFI regarding cooperation on a project involving the creation of a closed-end investment fund by Eques, the company said. The parties estimate their involvement of Pekabex in the fund at 40-60 million over three years.
Pekabex has entered into a letter of intent with Eques Investment TFI regarding cooperation in the implementation of a project involving the creation by Eques, in cooperation with Pekabex, of a closed-end investment fund that will invest in special purpose companies implementing Pekabex’s development projects in the area of multi-family housing, it was stated.
“The parties assume the issuer’s capital commitment to the fund at the level of 20% of the fund’s assets. The parties assume that within three years from the establishment of the Fund, the Issuer’s involvement in the Fund will amount to PLN 40-60 million,” – reads the announcement.
The cooperation with Eques is aimed at raising additional financing for the implementation of at least six property development projects and thus contributing to the development of the group’s property development activities, it was also stated.
Pekabex Group is a leading manufacturer of prefabricated structures in Poland. It has factories in Gdańsk, Poznań, Warsaw and Bielsko-Biała. In Poland, it mainly executes contracts in the field of large-volume construction (e.g. production halls, warehouses, commercial buildings, railway stations, car parks and office buildings) and engineering construction (e.g. bridges, tunnels). Exports are mainly in the area of modular housing directed primarily to the Scandinavian countries. The company debuted on the main market of the WSE in 2015; it is included in the sWIG80 index.
Source: Pekabex Group and ISBnews
