Property firm Meridian revives plans for Warsaw bourse listing
WARSAW, Sept 24
WARSAW, Sept 24 (Reuters) - Dutch company Meridian Properties has revived its plan to list its shares on the Warsaw bourse, having reduced the offering size by 15 percent to 170 million euro ($229.4 million) due to changes in its real estate portfolio, the company said.
Meridian had earlier planned to complete the initial public offer by mid-July, but postponed the project because of difficult market conditions. Now the offer is scheduled for mid-October.
The company said it will offer shares to Polish and foreign investors, adding the European Bank for Reconstruction and Development could also buy a stake during the IPO.
Citi is the sole bookrunner, with Alpha Bank, Erste Bank and Raiffeisen acting as co-lead managers.
The company said it wanted to spend almost 88 million euros from the IPO proceeds on buying a portfolio of nine properties - office buildings and retail parks in Bulgaria, the Czech Republic, Hungary and Romania.
The rest will go on new acquisitions in the region and loan repayments.
Meridian said it would be the first real estate investment trust to be listed in Warsaw, joining the likes of developer GTC , which is present in eastern Europe and the Balkans. ($1 = 0.7412 euros) (Reporting by Agnieszka Barteczko; Editing by David Holmes)
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