Trade Estates REIC: Successful completion of the Share Capital Increase At 1,92€

Trade Estates REIC: Successful completion of the Share Capital Increase At 1,92€

At 1,92€ the price of the new shares was set at 1,92€.

Target 18 high yield commercial properties by 2027

Athens, November 3, 2023 – The Share Capital Increase of “Trade Estates REIC”, a member of the Fourlis Group, has been fully covered, which was carried out with a cash payment and with the cancellation of the pre-emptive rights of existing shareholders, through a public offer and private placement (the “Increase”).

The objective of the Increase was fully met by the issue of 28,169,015 new ordinary registered shares of the Company through the public offering. The total valid demand expressed by investors who participated in the public offering amounted to 29,484,114 shares at €1.92 per share, or €56,609,498.88. At the same time, the private placement of 938,968 new, common, registered shares of the Company was fully covered by the shareholder of the Company “AUTOHELLAS ANONYMOS TOURISTIKI AND TRADE COMPANY”.

The Chairman of the Board of Directors of Trade Estates, Vassilis Fourlis, on the occasion of the completion of the public offer, expressed his thanks to the participants of the issue and the investing public, stating: “We would like to thank the investing public for the confidence they have shown in our capabilities and prospects. After a period of almost 15 years, we are the first AIFM to raise a significant amount of capital through the Public Offering process on the Greek Stock Exchange. Despite the global geopolitical challenges, and the specific characteristics of the industry, our company decided to proceed with its business plan uninterrupted and complete its listing on the HA. We continue to dynamically and steadily implement our investment plan, aiming to strengthen our position in modern retail and to continuously create value for our shareholders and partners, driven by excellence, transparency and innovation.”

Dimitris Papoulis, CEO of Trade Estates said, “The quality and long-term profile of the investors who trusted us makes us feel justified for the brave decision we have taken. The funds we have raised will allow us to move forward strongly with our investment programme. We would like to thank all the contributors to this important success, coordinators, underwriters and our advisors. We welcome numerous new investors to the Trade Estates shareholder base and thank them for their confidence.”

Detailed details of the allocation to the various investor classes will be announced on Tuesday, 7 November 2023, while trading in the shares is expected to commence on Wednesday, 8 November 2023 on the Athens Stock Exchange.

About Trade Estates REIC

Trade Estates REIC, a company with strong shareholders Fourlis Group, Autohellas and Latsco Hellenic Holdings, is the only real estate investment company in Greece that specializes in the development of new generation retail parks and Logistics Centers to serve the omnichannel retail strategy, with operations in Greece, Cyprus and Bulgaria. Trade Estates’ portfolio currently consists of 9 Shopping Parks, 3 new generation Logistics Centers and one property under development. Its investment plan for the next 4 years includes the creation of new shopping parks throughout Greece (with the flagship shopping park in “The Ellinikon Park”), participations in partnership companies for the development of shopping parks in Crete and Spata as well as the creation of new Logistics Centers.

According to the company’s development plan, by 2027 it will have a total of 18 commercial properties with a low environmental footprint and strong long-term tenants.

For more information please contact:

Trade Estates, Tina Taktikou, tel: 216 20 22 200, e-mail: tina.taktikou@trade-estates.gr


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