Jefferies and Panmure Gordon are bookrunners on the transaction, which is expected to be completed in the “near term,” according to Globalworth.
The company said in a regulatory filing on Tuesday that it would sell up to 28.5m new shares, worth €276m, based on the closing price of Globalworth on Monday.
"We have consistently demonstrated our ability to secure attractive investments, primarily by the opportunistic acquisition of assets sourced through multiple channels,” said Dimitris Raptis, deputy CEO of Globalworth. “We are confident that additional equity capital will allow us to further enhance our platform and continue our strong pace of growth in these attractive markets, having established a solid pipeline of near-term investment opportunities."
Globalworth intends to use the proceeds of the share sale to finance the acquisition of more properties and it is in advanced negotiations to buy a portfolio of five commercial properties in Warsaw and Krakow valued at €320m.
Alongside these investments, Globalworth is undergoing due diligence on other investment opportunities worth more than €300m.
Launched in 2013, Globalworth has built a portfolio of Romanian and Polish real estate assets worth more than €2.74bn as of the end of June.
It has funded the acquisitions through a series of capital increases, most recently in April, when Globalworth raised €500m. The company has also issued Eurobonds.
In the first half of 2019, Globalworth recorded profit of €49.9m, up from €49.8m from the first half of 2018.
Since its IPO in July 2013, shares in Globalworth have risen 92%; it has a market capitalisation of €1.88bn.