Meta Estate Trust successfully closes IPO and prepares for listing on the AeRO market of the Bucharest Exchange Stock

Meta Estate Trust, a holding company operating in the real estate sector through an investment model for the first time on the Romanian market, announces the successful closing of the initial public offering conducted between July 20th and August 2nd, according to the prospectus. Subscriptions exceeded 14 million lei and the listing on the AeRO market of the Bucharest Stock Exchange will take place in the coming weeks.

“We welcome the new investors of Meta Estate Trust and we are pleased that they are joining the company as shareholders. As we have stated since the beginning, we have ambitious plans to grow the business, and the capital raised from the recently closed IPO will allow us to pursue opportunities in the pipeline. We thank the investors who have joined us for their trust, and we hereby mention that we are in the process of finalizing the procedures for listing the MET shares on the AeRO market of the Bucharest Stock Exchange”, said Raluca Dragan, CFO Meta Estate Trust.

The company’s representative also stressed that the multidisciplinary team behind the company will work to deliver solid financial results to all shareholders. Thus, the successful closing of the IPO will further support the growth of the business and it defines the setting for achieving the targeted profit for this year.

“We conducted the IPO in difficult market conditions, when most companies chose to postpone it. We are continuing with our growth plans because our business model remains successful and is calibrated to provide protection from inflation in the present economic environment. At the same time, we are honoring our promise to become an open company that democratizes access to real estate investments, providing liquidity in a traditionally illiquid sector,” said Eugen Voicu, Chairman of the company’s Board of Directors.

Following the IPO in which more than 160 investors have participated, the company’s share capital exceeds 87 million lei. The Board of Directors also intends to propose to the shareholders a new share capital increase by the end of the year from the accumulated share premium.

“We further aim to increase total assets to EUR 100 million in the next 3 years. In line with our business strategy, in order to achieve leverage, the next step will be to launch a first euro-denominated bond issue which will be listed in its turn. We will also lay the foundations for expanding our presence in other segments of the real estate market, focusing in particular on income-generating assets such as office buildings, logistics and retail spaces”, added Eugen Voicu.

The company’s representative stressed that listing on the AeRO market is a natural step in the implementation of the Meta Estate Trust business model and he encouraged potential investors to consider real estate exposure as part of a balanced portfolio.
The Meta Estate Trust IPO broker was BRK Financial Group and the company received legal assistance from Popoviciu, Nițu, Stoica and Associates.

“We are pleased to have successfully closed the public offering of Meta Estate Trust, especially since the market context is difficult and marked by uncertainties, both from a macroeconomic and geopolitical point of view. We have seen notable investor interest in the Meta Estate Trust shares, which is yet another confirmation that innovative business models have the ability to attract capital market financing”, said Răzvan Raț, Deputy Director of BRK Financial Group.