Hungarian real estate developer Ablon has raised EUR 132 mln in an initial public offer (IPO) in London designed to help fund expansion. Ablon said in a statement it has sold 35 million shares at EUR 3.78 each to institutional investors, which amounts to 33% of the company's share capital.
Hungarian real estate developer Ablon has raised EUR 132 mln in an initial public offer (IPO) in London designed to help fund expansion. Ablon said in a statement it has sold 35 million shares at EUR 3.78 each to institutional investors, which amounts to 33% of the company's share capital.
Ablon indicated it may sell another 5.25 million shares to meet demand, raising an additional EUR 19.6 mln. 'The funds raised will enable us to finance both our current and future real estate projects, as well as to acquire additional projects in existing and new markets,' Ablon's ceo and founder Uri Heller stated.
Ablon, based in Budapest, is active in the Czech Republic, as well as Hungary and is expanding in Romania. Founded in 1993, Ablon has a diversified portfolio comprising offices, residential units, as well as retail, hotel and logistics developments accounting for some 140,000 m2.
