Impact raises 4.3m euros

The new shares offered by the constructor and real estate developer Impact Bucharest have been 96.46% subscribed. This is the highest subscription rate ever achieved by the company for a capital increase by issue of new shares. The shares were offered at 0.195 RON each, approximately half their value on the Bucharest Stock Exchange. Shareholders had the right to subscribe one new share for every seven held.

The increase helped Impact raise 4.3 million euros from its shareholders. The nearly three million shares left unsubscribed will be cancelled. Impact also issued 143 million shares at a par value of 0.1 RON each, which were distributed as bonus shares to shareholders. The capital increase was performed by including the issue premiums collected from previous increases through cash contributions in the share capital. The two capital increases pushed Impact”s share capital up by 21 million RON (5.8 million euros) to reach 79.6 million RON (22.2 million euros). Impact shares fell over the past few weeks, with brokers pinning the decline on shareholders that sold their shares in order to regain them at a lower price during the capital increase.