One of Poland’s top institutional investors, Pioneer Pekao IM, doubled its holding in the Polish retail developer Rank Progress from 7.4 percent to 13.53 percent. The investor expanded its stake in Rank Progress from about 2.7 million shares to more than 5 million. Pioneer Pekao now controls 10.08 percent of the votes on the developer’s supervisory board.
“The scale of the transaction from the country’s biggest institutional investor proves that Rank Progress has built a solid track record over the years. It also proves that Rank Progress is enjoying strong interest from its investors, who see our business model as a step in the right direction.”
