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Trastor to raise up to €75million to fund new real estate asset investments | TheGreekDeal.com
Piraeus Bank
Trastor to raise up to €75million to fund new real estate asset investments
The Board of Directors of Trastor A.E.E.A.P. decided today to increase the share capital with the aim of raising capital up to almost €75 million," the company announced
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Christos Megalou, Chief Executive Officer, Piraeus Bank

The Board of Directors of Trastor REI, following the authorization provided by the Extraordinary General Meeting of Shareholders on 17/11/2023, unanimously resolved during its meeting held on 14/12/2023 a share capital increase with the purpose to raise funds up to the amount of €74,999,990.90 (including the premium amount), through the issuance of up to 52,816,895 new ordinary registered shares with a par value of € 0.50 and an issue price of € 1.42 each, with pre-emptive rights in favor of the existing shareholders.

Mr. Christos Megalou, Chief Executive Officer of Piraeus Bank Group, made the following statement:

“Piraeus Bank’s strategic partnership with Trastor marks a significant step for the Bank in achieving its revenue growth and diversification aspirations. Our participation in the Company’s capital increase, reflects our support to Trastor in further capitalizing on real estate investment opportunities in Greece.”

Mr. Tassos Kazinos, Chief Executive Officer of Trastor REIC, made the following statement:

“This marks the Company's third share capital increase since 2019, underscoring our adeptness in raising and thoughtfully deploying capital within the Greek real estate market. Trastor has firmly established itself as a market leader with a strong growth rate track record, and the funds raised through this latest capital increase will further empower us to capitalize on investment opportunities with optimism and confidence. Rooted in value-add investing and the proficient management ofpremium commercial assets, our strategy continues to yield substantial returns for all our shareholders."

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