Hili Properties plc, the strategic real estate investment subsidiary of Hili Ventures, is launching an Initial Public Offering of more than 185 million ordinary shares having a nominal value of €0.20 per share on November 4. The shares will be listed on the Malta Stock Exchange.
This Equity Issue, the proceeds of which are expected to amount to up to €50 million, is aimed at fulfilling the objectives of Hili Properties to grow its asset portfolio by investing in commercial real estate with long-term appreciation potential, extend its footprint to additional European countries, and ultimately increase returns to shareholders.
Hili Properties’ portfolio, an asset base currently valued at €115 million, comprises six grocery-anchored shopping centres across Latvia’s capital Riga; a private hospital in Bucharest, Romania; 11 properties housing restaurants in key commercial districts in Estonia, Latvia, Lithuania, Malta and Romania; and three dedicated business blocks and office space in Sliema, Marsa and Floriana. Its tenants include Premier Restaurants, Swedish-owned supermarket giant Rimi, and Norwegian newsagent/convenience chain Narvesen. The company is currently in advanced discussions over two acquisitions – a newly built industrial property in Lithuania tenanted to an international brand and another property in Warsaw hosting a top DIY retail operator.
Hili Properties plc is offering for sale a total of 158,158,158 new ordinary shares. The issue price is €0.27 per ordinary share which represents a 7% discount on the €0.29 per share value. It is anticipated that Hili Properties plc will distribute a 4% net dividend based on the offering price of €0.27.
Information and documentation, including the prospectus and application forms, are available at www.hiliproperties.com/ipo or from authorised financial intermediaries. The offer closes on November 26, 2021. The shares are expected to start trading on the Malta Stock Exchange on December 16, 2021.
Hili Properties’ €115 million portfolio spans five European countries and accommodates supermarkets, gyms, restaurants and a private hospital.
The value of the investment may go down as well as up and past performance is not necessarily indicative of future performance. Investing in shares of the issuer may result in a loss of some or all the capital invested. Prospective investors should read the prospectus prior to making an investment decision to fully understand the potential risks and rewards associated with the decision to invest in shares of the Issuer. Prospective investors are urged to consult their independent financial advisor as to the suitability of investing in shares of the issuer.