Trastor announced today its intention to raise new capital with the aim of accelerating its growth strategy in the sectors of high-end office space and logistics facilities, capitalizing on the favorable conditions of the Greek real estate market.
The proposed offering will support the acquisition of high-quality assets, further strengthen Trastor’s balance sheet and profitability, and substantially increase the dispersion and liquidity of its shares.
The Company intends to proceed with the issuance and offering of new common, dematerialized registered shares with voting rights (the “New Shares”), with the restriction or waiver of the preemptive rights of its existing shareholders (the “Shareholders ”).
The New Shares will be listed for trading on the Main Market of the Regulated Market of Euronext Athens (the “Listing”).
The Company’s Board of Directors (the “Board”), acting pursuant to the authorization of the Annual General Meeting of Shareholders (the “AGM”) held on March 20, 2026, is expected to approve and determine the terms of the share capital increase and the offering of the New Shares within the next few days, subject to market conditions and investor response.
Subject to the foregoing, the New Shares are expected to be offered through:
(i) a public offering in Greece to retail and qualified investors through the Euronext Athens Electronic Book Building (“EBB”) service (the “Greek Public Offering”); and
(ii) private placements to qualified, institutional, and other eligible investors outside Greece, in accordance with the applicable exemptions from the current prospectus disclosure requirements (the “Institutional Offering” ” and, together with the Greek Public Offering, the “Combined Offering”).
In connection with the Greek Public Offering and the Listing, the Company is preparing a document in accordance with Annex IX of Regulation (EU) 2017/1129, as amended and in force.
Key points of the proposed Combined Offer
The Company intends to conduct the Combined Offering with the aim of:
(i) strengthen its capital position and support its growth trajectory,
(ii) increasing the free float,
(iii) improve the liquidity of its common shares, and
(iv) broadening its shareholder base. Upon completion of the Combined Offering, Trastor is expected to have a free float of at least 15%.
The proposed Combined Offering is expected to include a primary offering of New Shares, which will be issued by the Company as part of a share capital increase, with the restriction or elimination of existing Shareholders’ preemptive rights. Piraeus Bank, which currently holds a 98.6% stake in Trastor, is expected to participate in the Combined Offering with an investment of at least €50 million (subject to any adjustments that may be required to achieve a minimum dispersion of 15%) and to remain a major shareholder of the Company.
Use of Proceeds and Growth Strategy
Trastor is entering the next stage of its growth trajectory. The Company intends to use the net proceeds of the Combined Offering within approximately 12 months, among other things, for:
(i) financing specific acquisitions and capital expenditures in the short term that enhance value, and
(ii) supporting the long-term growth strategy in the office and logistics real estate sectors.
The Company has identified an investment plan totaling approximately €568 million, which includes, among other things, priority acquisitions totaling €55.5 million in the near term, as well as investments in upgrades and improvements to three high-end office properties in Athens.
This approach combines immediate income returns with long-term rent growth potential, strengthening the Company’s position as one of Greece’s leading REITs.
Lock-up Agreement
The Company and Piraeus Bank, as the Company’s major shareholder, intend to enter into a lock-up agreement for a period of 180 days from the commencement of trading of the New Shares on the Main Market of the Regulated Market of Euronext Athens, subject to customary exceptions.
Mr. Tassos Kazinos, Chief Executive Officer and Vice Chairman of the Board, stated:
“We are particularly pleased to announce our intention to proceed with the Combined Offering. Its successful completion is expected to broaden and diversify our shareholder base, increase the distribution and liquidity of our shares, further strengthen our balance sheet and profitability, and provide us with the necessary capital to implement the next phase of our growth strategy. This includes, among other things, the acquisition of selected high-end office properties, with the aim of creating an institutional-grade investment platform with a total value exceeding €1 billion. 4 5 The Greek high-end real estate market is at a pivotal point in its cycle, offering significant structural advantages to investors, such as substantially higher yields and faster expected rent growth compared to the European average. At the same time, the Greek economy continues to outperform Europe, while tenant demand remains strong. We are confident that our experience and proven track record of creating value for our shareholders place us in a strong position to capitalize on these positive market fundamentals. We look forward to inviting investors to join us on our journey, with the goal of establishing the Company as a benchmark in the Greek commercial real estate sector.”
*Trastor’s announcement regarding the share capital increase is published in the right-hand column under “Related Materials.”