In addition to professional investors, Hungarian retail investors will also be able to participate in Budapest Stock Exchange’s (BSE) first euro-based initial public offering. Shopper Park Plus Zrt., a regulated real estate investment holding company that owns and operates a portfolio of 18 retail properties, aims to float new ordinary shares and to list its ordinary shares in the BSE Premium category. Retail investors can subscribe for shares from October 9, 2023 with OTP Bank Nyrt. and Concorde Értékpapír Zrt. as distributors.
Budapest, September 29, 2023 – In the longer term, Shopper Park Plus plans to become one of the leading players by owning and operating one of the largest retail shopping park portfolios in the Central and Eastern European region.
Shopper Park Plus which is targeting the BSE and plans to continue operating as a regulated real estate investment company following the successful listing of its shares, has a portfolio of 14 properties in Hungary and, through subsidiaries, 4 properties in the Czech Republic, acquired in June 2022. The total gross lettable area of more than 320,000 square metres is shared by nearly 600 retail units with an average occupancy rate of over 95%. ’Remarkable growth potential and stable cash-flow are likely, which, in addition to professional investors, may also be attractive to retail individuals,’ said the founding partner of Adventum Investment Fund Management Zrt., a member of the Board of Directors of Shopper Park Plus. According to Kristóf Bárány, in the longer term, the strategy of Shopper Park Plus is to expand to other countries in Eastern Central Europe while further strengthening its position in the two existing markets.
The ongoing efforts to streamline the operation of the facilities acquired last year shall have a positive impact on profitability: as part of the complex green strategy, the aim is to achieve 30% energy savings at portfolio level compared to the level at which the properties were acquired through the energy efficiency measures and investments made so far.
’By applying rationalisation steps consistently and systematically, it is possible to monitor the energy efficiency performance of buildings accurately, optimise and continuously reduce energy use, like a good manager’ said Kristóf Bárány. He added: ’Improving operational efficiency is complemented by comprehensive sustainability efforts that actually reduce the carbon footprint of properties thereby increase the operational efficiency of buildings, which in turn make them more cost-effective.’
The majority shareholder of Shopper Park Plus is an investment fund managed by Adventum Investment Fund Management Zrt. which has extensive experience in the commercial real estate market. The investment funds managed by Adventum Group own a total of 700,000 square metres of office and commercial real estate, representing assets under management in excess of EUR 1 billion.
’The BSE’s first euro-based initial public offering and share subscription offers a new investment opportunity for all investors, and gives us the chance to extend our existing institutional only offering which is essentially aimed at professional investors to retail investors,’ said Kristóf Bárány.
Kristóf Bárány also pointed out that Shopper Park Plus has already started the preparatory process following the acquisition of the 2022 real estate portfolio in order to be able to list the company owning the retail shopping park portfolio in the Premium category of BSE this year through a public offering and share subscription. It also announced that, with the successful completion of the listing, Shopper Park Plus intends to meet all the requirements for listing in the BSE Premium category.
The newly issued ordinary shares of Shopper Park Plus will be available for subscription in euro to retail investors from October 9, 2023 at 09.00 until October 20, 2023 at 14.00. The offering period for domestic institutional investors will start at 9.00 on October 16, 2023 and end at 18.00 on October 20, 2023.
OTP Bank Nyrt. and Concorde Értékpapír Zrt. are participating in the share subscription as distributors. The newly issued ordinary shares of Shopper Park Plus are eligible for subscription by OTP Private Banking and OTP Global Markets and retail clients of Concorde. For further information on the participation in the subscription of the newly issued ordinary shares, please refer to Section V.5.4. of the Prospectus approved by the MNB (National Bank of Hungary).
Retail investors may subscribe for shares at a maximum price of EUR 11.5, provided that an amount equal to the consideration for the shares to be subscribed for is available in an account with one of the distributors at the same time as the New Ordinary Share Application Form is made. The final price will be determined by the Issuer within the price band after the closing of the sale, after consultation with the Distributors. If the resulting final price is lower than the maximum price, the difference will be refunded to retail investors.
Flagship companies Adventum Investment Fund Management Ltd., registered in Hungary, and Adventum International Ltd., registered in Malta, manage real estate funds investing in Central and Eastern Europe. The funds own more than 700,000 sqm of commercial real estate in core CEE countries with an AuM in excess of EUR 1 billion.
“This disclosure is considered as advertising pursuant to Regulation (EU) No 1129/2017. The purpose of the disclosure is to ensure that all investors have access to the same regulated information and thus to ensure full transparency and compliance of the Company with the capital market requirements under Regulation (EU) No 1129/2017, Regulation (EU) No 596/2014 and Act CXX of 2001 on Capital Markets (Act on Capital Markets). In connection with the information contained in this disclosure, the Company has published a prospectus approved by the Hungarian National Bank in relation to the issuance of securities pursuant to Regulation (EU) No. 1129/2017, which is available on the website of the Budapest Stock Exchange, the disclosure website of the Hungarian National Bank, the Company’s website, the website of Concorde Értékpapír Zrt. as distributor and the website of OTP Bank Nyrt. as distributor. The Hungarian National Bank has approved the prospectus for compliance with the requirements of Regulation (EU) No 1129/2017 on completeness, clarity and consistency and it should not be considered as a recommendation on the Company or on the quality of the securities. Investors are advised to read the Prospectus before making an investment decision in order to fully understand the potential risks and benefits of the relevant investment decision and to carefully consider the legal, tax or return consequences, including the benefits and the relevant risks of a potential investment in the Company and its securities before making an investment decision. The Company draws attention to the fact that the Company and its representatives, Concorde Értékpapír Zrt. as distributor and OTP Bank Nyrt. as distributor do not take any liability for investment decisions based on the conclusions drawn by investors, their adverse legal consequences or financial losses.”