With the public listing of Shopper Park Plus, there are now 23 issuers in the Premium Category. The start of Shopper Park Plus’s exchange trading was hailed by the local capital market with a celebratory ring of the bell at BSE headquarters. Richárd Végh, CEO of the Budapest Stock Exchange and Kristóf Bárány, chairman of Shopper Park Plus both took part in the event.
The Shopper Park Plus IPO surpassed expectations: the sale closed with an oversubscription of 67% from retail investors and 78% from institutional investors. The company finally achieved a capital increase of 37.21 million Euros (around 14 billion Hungarian Forints). To start with, there are 11,577,618 Shopper Park Plus shares in the BSE Premium Category, with a total value of 125 million Euros (about 47 billion Hungarian Forints) at the introductory price of 10.8 EUR.
Shopper Park Plus operates as part of the Adventum Group, a defining actor on the Eastern Central European real estate market. It currently operates 18 retail properties in the region. The company’s portfolio includes four units in the Czech Republic and 14 units in Hungary. These units have a total gross floor area of more than 320,000 square metres for rent, with space for nearly 600 businesses.
By going public, Shopper Park Plus (SPLUS) has solidified its commitment to capital market development. At the same time, the IPO marks an important milestone in the history of the company, and further strengthens its position on the retail real estate market.
The following also participated in the event: representatives of Concorde Értékpapír Zrt. and OTP bank (supporting the retail subscription as dealers), representatives of Concorde MB Partners, representatives of legal advisors, namely Hümpfner & Associates, Deloitte Legal Göndöcz and Partners Law Firm, and Allen & Overy Kádár Legal Firm, representatives of the tax consultancy firm Deloitte Zrt., representatives of Ernst & Young Könyvvizsgáló Kft., as well as representatives of the bank consortium enabling credit facilities for bank financing to purchase the portfolio during the 2022 acquisition, namely OTP Bank Nyrt. and Erste Group (Erste Group Bank AG and Erste Bank Hungary Zrt.).
We started the preparatory processes just after the acquisition in 2022 in order to be able to enter the company, with its retail shopping park portfolio, into the BSE Premium Category during this year. Going public on the capital market lends additional transparency to operations, while the status of regulated investment company, which we will be striving to attain after the successful entry to the Exchange, also provides tax benefits. In the long term, we are committed to making Shopper Park Plus one of the most significant retail park portfolio owners and operators in the Central Eastern European region.”
- said Kristóf Bárány, chairman of Shopper Park Plus during introductions.
Capital market resources available through the Exchange combined with bank financing are able to cover the growth and investment goals of local companies, which is an important basis for economic growth and competitiveness. Shopper park Plus going public is an excellent example of this.”
- emphasized Richárd Végh, CEO of the Budapest Stock Exchange.