Unirea car park evaluated at 28m euros for capital increase

Unirea Shopping Center Company (SCDM), which owns the shopping centre with the same name in central Bucharest, is set to conduct a capital increase, which will add the store’s aboveground car park to the company’s assets. The total value of the move stands at 128 million RON (38.3 million euros). As part of the capital increase, Nova Trade, Unirea Shopping Center’s majority shareholder, will bring the car park, evaluated at 94 million RON (28 million euros) as a contribution in kind, and the other shareholders will be able to make cash contributions in order to preserve their stakes. The company will issue 1.055 million new shares, with a nominal value of 2.5 RON, which will be offered for subscription to shareholders, at a price of 121.43 RON. The shareholders will be entitled to subscribe 5 new shares for every 10 shares held. Following this move, the company’s share capital will increase by 2.63 million RON (0.79 million euros), with the remaining 37.5 million euros placed in the company’s reserves. Yesterday, the price of a Unirea Shopping Center share stood at 188 RON, while the company’s capitalisation stood at 120 million euros. The company is controlled by Nova Trade (owned by businessman Dan Adamescu), which holds 65.4% of shares, while Adamescu holds around 5%.