Leading Central, Eastern and Southern European commercial real estate company Globe Trade Centre S.A. (GTC) is proud to announce that almost 100% of the offered series K shares were subscribed for in the initial subscriptions. In total, the share offering of its K series shares was more than 34% oversubscribed.

“The great subscription result is a signal from investors that they approve of our new strategy and strongly believe in its execution. As previously indicated, the funds from the capital increase will strengthen our balance sheet and will be used to finance growth through the acquisition of value-added assets, to develop selected projects in our core markets and to seize opportunities to enhance the company’s value.” – Thomas Kurzmann, GTC’s CEO said.

“The new cash will reinforce our relationship with our lenders and will provide headroom for further leverage to boost returns from investment” – added Erez Boniel, GTC’s CFO.

The proceeds from the share issue will also fund the development of GTC’s promising projects, Galeria Wilanów in Warsaw, University Business Park in Łódź and the second phase of the FortyOne project in Belgrade. Acquisitions and development projects will enable GTC to boost its real estate portfolio value and financial results. Additionally, GTC has carefully selected a number of potential acquisition targets that meet its investment criteria. The company plans to invest in properties with value-added potential that can be realized through its regional platform and asset management skills. The acquisition targets are located in Poland and capital cities in the CEE and SEE region. GTC plans to acquire assets in the office and retail sectors.

Globe Trade Centre S.A.

KOR 45A, 02-146 Warsaw NIP: 527-00-25-113 T: +48 22 16 60 700 www.gtc.com.pl

GTC countries Bulgaria Croatia Hungary Poland Romania Serbia

Download GTC Logo

© 2020 Globe Trade Centre made by Esencja Studio