One United Properties completes its IPO on the Bucharest Stock Exchange

One United Properties, one of the leading green developers of residential, mixed-use and office real estate in Bucharest, Romania, has successfully completed the Initial Public Offering (IPO) for sale of shares as the largest issue in the last four years on the Bucharest Stock Exchange. One United Properties becomes the third largest Romanian entrepreneurial company listed on the Bucharest Stock Exchange and ranks among the top 10 listed companies according to the IPO market capitalisation.

The initial public offering for the sale of shares took place between June 22 and July 2, and today, at the end of the trading day, the final offer price was set at RON 2.00 per share, while the company’s expected capitalization is RON 2.86 billion (EUR 580 million). One United Properties attracted RON 260 million (EUR 52.8 million) funds for the capital increase. The company’s shares will be listed under the ONE symbol on the Main Market of the Bucharest Stock Exchange.

The developer’s initial public offering was oversubscribed in both tranches– for institutional and respectively retail investors, with a considerable interest for the company’s shares from the first day of subscription, when the guaranteed allocation retail tranche was fully subscribed in the first 40 seconds. As a result of this increased interest, the company decided to reallocate 3% of the total offer from the retail investors’ tranche to the tranche addressed to institutional investors. After reallocation, the tranche reserved for retail investors with pro-rata allocation was oversubscribed 9.2 times and the institutional investors subscribed 63% of the total offering. The retail investors participated with 3,207 purchase orders.

“We are happy and honoured that investors have shown such confidence in our company in this new beginning for One United Properties on the capital market. We would like to thank both the retail investors and the pension and investment funds and other institutional investors who trusted in the company’s growth prospects and invested in our initial public offering. After the listing, our goal will be to deliver results, but also to be a liquid issuer and to remain open to new investors as well”, said Victor Căpitanu, One United Properties Co-founder.

“In its development, One United Properties has always been close to investors, shareholders, customers, and the community, and we aim to continue to do that. We put together a strong team that is able to further contribute to the company’s growth, and the market is indeed attractive and has a high potential. We are determined to continue to innovate in the real estate field and bring quality to the Romanian market with landmark sustainable developments”, added Andrei Diaconescu, One United Properties Co-founder.

Following the closing of the IPO, One United Properties will request the admission to trading of its shares on the Main Market of the Bucharest Stock Exchange, under the symbol ONE. The intermediary of the offer is BRK Financial Group (through Răzvan Raț, Deputy General Manager), while Swiss Capital (through Bogdan Juravle, General Manager) is part of the distribution group. Filip & Company (through Alexandru Bîrsan, partner, and Olga Niță, partner) provided legal assistance to One United Properties in relation to the offer and the listing process.