Shopper Park Plus Raises over EUR 100 Mn

Shopper Park Plus, which owns a portfolio of retail properties in Hungary, the Czech Republic and Slovakia, has announced the successful close, on Monday, of a share issue that raised a little over EUR 100 million.

In an announcement on Tuesday, Shopper Park Plus said 9,300,000 shares were subscribed at a price of EUR 10.80 per share. Institutional investors subscribed 8,080,541 of the shares and retail investors 1,219,459.

They added that during the subscription period, investors oversubscribed the maximum number of shares to be issued, with a total of 9,546,232 shares subscribed.

They also noted that there had not been a public share issue of this size on the BSE for 28 years.

The more than EUR 100 million in subscription intentions were driven by the expected high euro dividend yield, favorable returns on Polish investments, and the declining interest rate environment in developed markets, adding that Shopper Park Plus has paid dividends of more than 7% over the past two years amid low volatility.