16:37 30.01.2015

Fora Retail developer intends via extra share issue to raise UAH 33.2 mln to buy commercial property

2 min read
Fora Retail developer intends via extra share issue to raise UAH 33.2 mln to buy commercial property

PJSC Fora Retail developer, the main stockholder of Fora retailer (both based in Vyshneve, Kyiv region), which both are part of Fozzy Group (Kyiv), is intending to increase charter capital by UAH 33.2 million, to UAH 33.615 million to acquire commercial real estate

According to a company report in the information disclosure system of the National Commission on Securities and the Stock Market, the decision was made on January 27 by the single shareholder of the company, PJSC Benefit closed non-diversified venture corporate investment fund, in the name of which AMC Investment Partners (both based in Kyiv) in the person of director Inna Zhurzhiy acts.

"The purpose of using financial resources, raised from share placement, is to increase the stability of the company, ensure its further development and strengthen its competitiveness in the real estate market," reads a statement.

The increase in the charter capital of Fora Retail is planned at the expanse of contributions by Benefit to the company's charter capital through the issue and private placement of 33.2 million common registered shares with par value and a price of UAH 1, which corresponds to the market value of the shares as of January 19.

According to the report, of the total amount of raise funds it is planned to use 85% for the purchase of commercial real estate and 10% and 5% for this property repairs, reconstruction and maintenance respectively.

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