News

Expat Beta Capital Increase Presentation

18.05.2010 / Press releases

A press conference to announce the capital increase of the real estate investment trust Expat Beta will be held on 27 May, 11 a.m. at the Radisson Hotel, Saloon 1 (4 Narodno sabranie Sq., Sofia).
Later that day, at 6.30 p.m., at Alexander's Ballroom (Radisson Hotel) Expat Capital organizes an investment presentation about the IPO and the investment plans of the REIT, focusing on the opportunities for investments in distressed assets.
The issue of Expat Beta REIT will be to the amount of 43,428,900 ordinary shares with an issue price of BGN 1.00 per share. The capital increase is intended for investments in high-quality distressed assets. We would prefer to invest in new modern finished commercial buildings with operating licenses at prime locations (primarily in Sofia), aiming at doubling the initial investment within a 2-3-year horizon without taking any development risk.
Expat Beta is a real estate investment trust listed on the Bulgarian Stock Exchange – Sofia, regulated by the Financial Supervision Commission and managed by Expat Capital. Expat Beta REIT is one of the few stocks in Bulgaria whose market price has not fallen during the crisis. One of the reasons is that the fund has zero bank debt. Besides, the fund has purchased 140,099 m2 of land zoned for development in the Kamchia resort on the Black Sea coast at a low price with a good potential for a profitable exit.