White & Case advises banks on Globe Trade Centre's PLN 570 million shares issuance

Press Release
1 min read

Global law firm White & Case LLP has advised Erste Group Bank AG, Santander Bank Polska S.A. - Santander Biuro Maklerskie and Wood & Company Financial Services, a.s., as Global Coordinators and Joint Bookrunners, on the increase of the share capital in Globe Trade Centre S.A. via the issuance of series O bearer shares in an accelerated book-building transaction.

Polish and international investors subscribed for the shares, exceeding the basic issue of 55 million new shares. Globe Trade Centre increased the offer by more than 60 percent and ultimately sold 88.7 million shares at PLN 6.40 per share, generating approximately PLN 570 million (around €123 million), which will be used to strengthen the company's capital structure and finance further growth.

Globe Trade Centre is a leading real estate investor and developer active in Poland, Hungary, Romania, Bulgaria, Serbia and Croatia. Its shares are listed on the Warsaw Stock Exchange and inward listed on the Johannesburg Stock Exchange.

The White & Case team in Warsaw which advised on the transaction included partner Rafał Kamiński and associate Damian Lubocki.

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