There are three reasons why Trastor will proceed with a capital increase of €100 to €140 million in early 2025.

In particular:

• That is, to increase diversification and boost the marketability of the share;
• second, to increase retail investors, as this is expected to create value for the share and the company;
• third, to finance its development plan in order to achieve an increase in its portfolio with new properties

CAPITAL INCREASE

Piraeus Bank will pay for roughly 50% of the new capital increase, with Greek retail investors covering the remaining 50%. It should be noted that Piraeus Bank currently holds 98.58% of Trastor's shares, with a free float of only 1.42%. The shares of the real estate investment trusts are currently trading at a discount to their intrinsic value, and given that to achieve the minimum spread of 15%, Trastor would need to raise an issue from retail investors alone of between €50 and €70 million and another €70 million from its main shareholder, Piraeus Bank. 

THE OUTLOOK FOR THE INDUSTRY

At the same time, the outlook for the sector is positive, as the policy of lowering interest rates is creating the right framework for the growth of real estate companies. Not only in our country, but internationally. However, the domestic market has to cope with the large discounts traded on the stock exchange compared to other foreign companies. The interest rate cuts are expected to ease their borrowing servicing costs as well as improve financing conditions for the implementation of the investments they are launching.