AFI Europe planned to raise €100 million on the Warsaw Stock Exchange.
Sources inform ''Globes'' that Africa-Israel Investments Ltd. (TASE:AFIL) has postponed the IPO of its East European development arm, AFI Europe NV, on the Warsaw Stock Exchange. AFI Europe planned to raise €100 million in an offering of 25-30% of its shares. Its direct parent company, Africa-Israel Properties Ltd. (TASE: AFPR), also planned to sell shares in the company for €30 million.
AFI Europe's shareholders' equity for the IPO is €460 million, after Africa-Israel Properties converted a €260 million owner's loan into equity.
Published by Globes [online], Israel business news - www.globes-online.com - on December 2, 2010
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