For almost a month, Globalworth shares, company founded by Ioannis Papalekas in February this year, had a positive evolution.
On 25th of July, Globalworth issued 10.7 million common shares for EUR 5 per share. The founder of the company, Ioannis Papalekas invested EUR 15 million in the initial public offer.
On 7th of august, Globalworth announced that Villar International Limited, controlled by the businessman Shlomo Tisser, is interested in buying one million shares, representing 9.33% from the total issued shares.
On 12th of August, the price per share increased to EUR 6.85, reaching the next day EUR 7 per share, from the listing date.
In the beginning of this week, on 19th of august, Globlworth ended the day with EUR 6.88 per share, reaching a stock capitalization of EUR 73.69 million.
In the admission document on AIM market, Globalworth agreed to buy the "the initial portfolio", made of seven properties, some generating revenues, other in construction or planned.
The office building that is to be developed on the former showroom Porsche Aviaţiei plot in Bucharest needs an investment of over EUR 40 million, but will have at its completion a market value over EUR 140 million.
Another office building will be developed in the neighbourhood of Herastrau Park, needing an investment of EUR 15 million. (source: economica.net)
