£107.25m
0.000p
62.50p
Date: Tuesday 25 Mar 2008
LONDON (ShareCast) - Nanette Real Estate has made its first foray into the Ukraine through the purchase of a 15% stake in Olimpia Real Estate which owns land in the centre of Kiev.
The UK firm bought the holding for €3.9m from Olimpia Euro Constructions of which Olimpia Real Estate owns 45%.
Nanette’s boss Oskar Kazanelson is chairman of Cypriot firm Olimpia Real Estate, which owns 29.9% of Nanette as well as a Ukrainian company that owns a 118,000 Sqm plot of land in Kiev.
According to the existing rights on the land it is possible to build approximately 2,000 apartments on the plot. The deal was financed from the existing resources.
“Nanette and its partners are investigating options regarding bank financing and attracting additional equity investors to aid the development of the project,” said the group.
“We and many other significant real estate developers believe that Ukraine and Kiev in particular show tremendous potential - and can potentially escape the effects of the credit crunch seen in the international real estate industry,” said chairman Shaul Lotan.
| Currency | UK Pounds |
| Share Price | 62.50p |
| Change Today | 0.000p |
| 52 Week High | 129.50p |
| 52 Week Low | 54.00p |
| Volume | 0 |
| Shares Issued | 171.60m |
| Market Cap | £107.25m |
| RiskGrade | 108 |
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| Latest | Previous | |
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| Final | Interim | |
| Ex-Div | n/a | 05-Sep-07 |
| Paid | n/a | 07-Oct-07 |
| Amount | 6.40¢ | 0.60¢ |
| CEO | Oscar Kazanelson |
| Finance Director | Ran Jacobs |