New Europe Property Investments (NEPI) and Rockcastle Global Real Estate Company Limited concluded the merger announced at the end of last year, a press release informs.
Pursuant to the merger of the two South-African investment funds, the new company will be named NEPI Rockcastle and will be the largest listed real estate investor in Central and Eastern Europe.
At opening, based on a reference price of EUR 11.33 per share, the total market capitalisation of NEPI Rockcastle was approximately EUR 6.1 billion.
The entire issued share capital of new company will be listed on the Main Board of the JSE and on Euronext Amsterdam, under NRP stock exchange symbol. Thus, NEPI will be delisted from the JSE and Bucharest Stock Exchange, and Rockcastle are delisted from the JSE and Mauritius Stock Exchange Ltd, at the commencement of trade on Tuesday, 18 July 2017.
Also, following their listing on July 12 on the JSE Limited and Euronext Amsterdam, 538,953,794 NEPI Rockcastle shares were issued on July 17.
Currently, NEPI Rockcastle owns and manages dominant retail assets and A-grade offices in the Central and Eastern Europe (CEE) region, with a complementary portfolio of global real estate listed securities.
The company’s core direct property portfolio comprises 42 retail, 6 office and 2 industrial properties, located primarily in the CEE region, with 3 developments under construction and 17 under permitting and pre-leasing.