NEPI preparing €80m share issue to fund retail acquisitions

NEPI hopes to raise €80m through a share issue to finance the acquisitions of Aurora Shopping Mall Buzau and Alba Iulia Strip Mall in Romania as well as a shopping center in Serbia. The South African investment fund recently bought Aurora Shopping Mall Buzau and Alba Iulia Strip Mall from the businessman Dan Ostahie €10m. NEPI plans to renovate the shopping centers.
Meanwhile, NEPI is currently developing Mega Mall in Bucharest’s Pantelimon neighborhood and Timisoara Shopping City. Both projects are scheduled to open in the second quarter of 2015. NEPI, one of Romania’s biggest real estate investors, owns both commercial and office projects on the local market.