I2 to raise PLN 58 million from share issue

Wrocław-based developer I2 Development plans to raise up to PLN 58 mln from a share issue in order to accelerate its launched and planned projects, as well as to finance the companies of the group, Eurobuild CEE informed. The company will offer two million new shares accounting for 20 percent of its increased share capital. It will be addressed to institutional investors mainly, with only 10 percent up for sale for individual investors. “We want to use the funds from the issue to finance the Bulwar Staromiejski and Ogrody Jordanowskie II projects, in which we want to make additional payments for the land, as well as the Księcia Witolda, Piękna 58 and Legnicka projects, where we already have building permits,” said the vice-president of the company, Marcin Miszal.