Hili Properties launches €50 million IPO

Hili Properties plc, the strategic real estate investment subsidiary of Hili Ventures, is launching an Initial Public Offering of more than 185 million ordinary shares having a nominal value of €0.20 per share on November 4. The shares will be listed on the Malta Stock Exchange. 

This Equity Issue, the proceeds of which are expected to amount to up to €50 million, is aimed at fulfilling the objectives of Hili Properties to grow its asset portfolio by investing in commercial real estate with long-term appreciation potential, extend its footprint to additional European countries, and ultimately increase returns to shareholders. 

Hili Properties’ portfolio, an asset base currently valued at €115 million, comprises six grocery-anchored shopping centres across Latvia’s capital Riga; a private hospital in Bucharest, Romania; 11 properties housing restaurants in key commercial districts in Estonia, Latvia, Lithuania, Malta and Romania; and three dedicated business blocks and office space in Sliema, Marsa and Floriana. Its tenants include Premier Restaurants, Swedish-owned supermarket giant Rimi, and Norwegian newsagent/convenience chain Narvesen. The company is currently in advanced discussions over two acquisitions – a newly built industrial property in Lithuania tenanted to an international brand and another property in Warsaw hosting a top DIY retail operator. 

Hili Properties plc is offering for sale a total of 158,158,158 new ordinary shares. The issue price is €0.27 per ordinary share which represents a 7% discount on the €0.29 per share value. It is anticipated that Hili Properties plc will distribute a 4% net dividend based on the offering price of €0.27. 

Information and documentation, including the prospectus and application forms, are available at www.hiliproperties.com/ipo or from authorised financial intermediaries. The offer closes on November 26, 2021. The shares are expected to start trading on the Malta Stock Exchange on December 16, 2021.