Meridian Properties, a REIT type company registered in Holland, has confirmed their plans to make a debut on Warsaw Stock Exchange. The date of IPO has been set for mid-October 2013.
The estimated value of the offer is 170 M. Euro and is lower than the previously planned 200 M. Euro. This is the consequence of a change in the content of the prime real estate portfolio as well as the structure of emission targets.
The offer will be divided on the one targeted at professional investors in Poland as well as the international offer for institutional investors outside Poland. The Citi company will be the sole global coordinator of the offer as well as will be in charge of logbook. The co-managers are: Alpha Bank, Erste Bank as well as Raiffeisen.
Meridian Properties is going to be the first REIT type company listed on Warsaw Stock Exchange. We are going to be a completely new investment proposition for investors looking for exposure in the current phase of the business cycle of real property market of so called Emerging Europe. We offer a diversified portfolio featuring high quality real properties generating a stable income, dividend yield as well as an experienced management team. I can happily inform that Meridian Properties has signed a framework agreement with European Bank for Reconstruction and Development, which will allow EBOR to purchase a block of company’s shares during IPO – says Yannis Delikanakis, President of the Board of Meridian Properties N.V.
The company plans on spending the obtained funds to purchase 9 real properties, 6 are going to be modern office buildings and 3 commercial buildings, in 6 main cities in Bulgaria, Czech Republic, Hungary and Romania. The total area of lease is 104 572 sqm. including 63 286 sqm. intended for offices. The buildings are rented in 97 per cent, for, among others, Kraft, Eurohold, Lufthansa, Citibank and Eureko. The real properties are managed in accordance with principles of sustainable development.