NEPI Admitted To Trade On Bucharest Stock Exchange

05.19.2011 By Andrei Circhelan

Romanian securities regulator CNVM on Wednesday approved the prospectus for the admission to trading of South African property investment fund New Europe Property Investments, or NEPI.

The prospectus was prepared by managers Banca Comerciala Romana SA and SSIF Intercapital Invest SA, and approved by CNVM on May 18, NEPI said Thursday in a statement.

"A further announcement regarding the date of commencement of trading of its shares on the BVB will be published in due course," the company said.

NEPI will be the first property investor listed on the Bucharest bourse on the market segment created for real estate investment trusts, or REITs.

NEPI is associated with South Africa's top realty group, Resilient Property Income Fund, and it holds some 30 properties, mostly in Romania, including Floreasca Business Park in Bucharest, a stake in shopping center Iris Shopping Pitesti, European Retail Park Braila, and an 18-property portfolio bought in 2008 from Avrig 35.