First Euro-Based Share Issuance at BSE

The first ever Euro-based share issuance on the Budapest Stock Exchange (BSE) has successfully been concluded. Through an initial public offering (IPO), Shopper Park Plus raised a total of 37.2 million Euros in capital, placing its shares into the BSE Premium Category, the stock exchange website reports.

Shopper Park Plus manages a significant retail real estate portfolio in the region, comprising of 18 units. It aims to become the owner and operator of the biggest shopping park in the region in the medium term, and going public could do a lot to help it achieve this goal.

With the public listing of Shopper Park Plus, there are now 23 issuers in the Premium Category. The start of Shopper Park Plus’s exchange trading was hailed by the local capital market with a celebratory ring of the bell at BSE headquarters. Richárd Végh, CEO of the Budapest Stock Exchange and Kristóf Bárány, chairman of Shopper Park Plus both took part in the event.

The Shopper Park Plus IPO surpassed expectations: the sale closed with an oversubscription of 67% from retail investors and 78% from institutional investors. The company finally achieved a capital increase of 37.21 million Euros (around 14 billion Hungarian Forints). To start with, there are 11,577,618 Shopper Park Plus shares in the BSE Premium Category, with a total value of 125 million Euros (about 47 billion Hungarian Forints) at the introductory price of 10.8 EUR.

Shopper Park Plus operates as part of the Adventum Group, a defining actor on the Eastern Central European real estate market. It currently operates 18 retail properties in the region. The company’s portfolio includes four units in the Czech Republic and 14 units in Hungary. These units have a total gross floor area of more than 320,000 square metres for rent, with space for nearly 600 businesses. By going public, Shopper Park Plus (SPLUS) has solidified its commitment to capital market development. At the same time, the IPO marks an important milestone in the history of the company, and further strengthens its position on the retail real estate market.