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GTC - Globe Trade Centre SA News Story

PLN6.16 -0.0  -0.6%

Last Trade - 24/09/20

Mid Cap
Market Cap £601.5m
Enterprise Value £1.58bn
Revenue £153.0m
Position in Universe 53rd / 748

Warsaw-listed GTC sets rights issue price at PLN 5.47/shr

Sat 5th September, 2015 8:53am
WARSAW, Sept 5 (Reuters) - Warsaw-listed property developer 
GTC  GTCP.WA  set the price in its rights issue at 5.47 zlotys 
per share, valuing the issue at 596 million zlotys ($157.4 
million), the company said late on Friday. 
    The group, controlled by real estate fund Lone Star, said it 
would issue 108.9 million new shares, raising the overall number 
of its shares by 31 percent. Earlier this year, GTC's 
shareholders approved a rights issue of up to 140 million 
shares.  ID:nW8N0YV01G  
    The issue price is below GTC's Friday close of 5.76 zlotys 
per share - 3 percent down on the day. The Friday close values 
GTC at 2.02 billion zlotys. 
    The issue is open to people who are registered as GTC 
shareholders by Sept. 10. 
    Under its plan, long-opposed by some minority shareholders, 
GTC wanted to increase its total number of shares by up to 40 
percent. The main aim was to fund real-estate acquisitions in 
Poland and eastern Europe. 
    In June, GTC said it planned to spend around 45 percent of 
the proceeds from its rights issue in Poland.  ID:nW8N0YV01J  
    Source text for Eikon:  ID:nEM0400953  
 ($1 = 3.7870 zlotys) 
 (Reporting by Adrian Krajewski; Editing by Susan Fenton) 
 ((; +48 22 653 97 09; 
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