Shopper Park Plus Zrt., a real estate firm that owns 18 Tesco-anchored retail parks in the Central and Eastern European region, is set to launch the first euro-denominated initial public offering (IPO) in Hungary this year. The company aims to raise €53.1 million ($62.4 million) on the Budapest Stock Exchange, with shares offered at a price range of €10.8 - €11.5 each from Monday, October 9 to Friday, October 20.
The IPO, managed by Concorde Securities Zrt. and OTP Bank Nyrt., sets a minimum target of €21.6 million ($25.4 million). Achieving this target would secure Real Estate Investment Trust (REIT) status for Shopper Park Plus Zrt., which would provide the company with significant tax benefits.
Adventum, guiding Shopper Park Plus Zrt. through the IPO process, oversees more than €1 billion ($1.17 billion) in commercial real estate assets. The upcoming IPO is a noteworthy event for the Hungarian market, marking the first time this year that a company has sought to raise capital through a euro-denominated public offering.
Shopper Park Plus Zrt.'s portfolio comprises retail parks anchored by Tesco (OTC:TSCDY), a prominent supermarket chain in Europe, bolstering its appeal to potential investors. This IPO not only provides an investment opportunity but also signifies the robust activity within the Central and Eastern European real estate market.
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