Romanian real estate company Meta Estate Trust said it has raised from 19 million lei ($4.7million/ 3.9 million euro) from strategic investors during a first round of financing and plans to list on the alternative trading segment of the Bucharest Stock Exchange, according to SeeNews.com.
Part of the capital raised was already used in the acquisition of approximately 40 properties – apartments in Bucharest and the Black Sea resort of Mamaia, Meta Estate Trust said in a press release.
The company is already preparing for another financing round.
“At the next General Meeting of Shareholders on June 14th, we will propose for approval two crucial items for the development of Meta Estate Trust: raising another 15 million lei through a private placement later this summer and electing members of the advisory board,” Meta Estate Trust co-founder Eugen Voicu said.
“Naturally, we will then turn our attention to the listing on the AeRO market of the Bucharest Stock Exchange, through an IPO,” Voicu added.
The company has a holding structure and is focused on the large urban residential segment, represented in the first stage by Bucharest, Constanta, Cluj-Napoca, Iasi and Timisoara. Meta Estate Trust was established earlier this year by a group of entrepreneurs with expertise on the real estate and capital markets.
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