RGI, an AIM-listed Moscow property developer part-owned by Morgan Stanley, said on Monday that as of 4 September 2007 it had an indirect interest in 15,005,697 shares, representing almost 11.92% of the issued and allotted shares of the company. MSSL holds 3.11% of the shares and SSF III the remaining 8.81%.
RGI, an AIM-listed Moscow property developer part-owned by Morgan Stanley, said on Monday that as of 4 September 2007 it had an indirect interest in 15,005,697 shares, representing almost 11.92% of the issued and allotted shares of the company. MSSL holds 3.11% of the shares and SSF III the remaining 8.81%.
The company’s interim results for the first half-year show the high-end developer to have a total net asset value of EUR 1,112 mln, up from EUR 331 million at year-end 2006. Commenting, the company’s Executive Chairman Jacob Kriesler said: ‘The company raised EUR 182 mln in April 2007 through a follow on offering, bringing the total amount raised in equity since September 2006 to EUR 343 mln. The majority of the funds were invested in the acquisition of six new development projects during the period. These acquisitions were the main reason for the rapid increase in RGI’s NAV per share.’