Quaestus fund eyes HRK 1billion
24 January 2008
The new fund in Croatia, Quaestus Invest, will focus on construction land, completed projects, existing real estates, real estate companies and securities. The subscription for shares of Quaestus Real Estate, close-end real estate investment fund, started on Tuesday morning.
Quaestus Real Estate plans to gather HRK 250 million in the first public offering with the aim of collecting HRK 1billion in the next 5 years with several issues. "We do not aim for fast earnings but wish to maximise the middle and long term revenues. What we offer is professionalism, integrity and competitiveness," stated Borislav Skegro, Quaestus Invest director. Face value per share is HRK 100 while the minimal amount for successful transaction is HRK 200 million which founders do not question.
They did not wish to comment on potential investors among which pension funds, insurance companies and equity funds are expected as well as individuals. The subscription ends on February 5 and will be followed by founding general assembly on February 22. The shares are planned to be listed on Zagreb Stock Exchange around March 19. Among potential projects in which the fund will invest are commercialisation of port superstructure (port of Dubrovnik), construction of water park Category Killer stretching over 200,000sqm, mixed used resort, i.e. golf course with all additional facilities, business zones and wind power plants. All of these projects are worth more than HRK 100 million.