Shares digital

RGI International (RGI) – Finals PTP: $657.5m ($88.4m) Divi: n/a (n/a)

The acquisition of six new development projects helped to support rapid growth in the company’s NAV per share, which rose from $4.50 to $15.51 during the year ending 31 December 2007.

Growth was further driven by increased selling prices and rents with ongoing positive yield shift in Moscow real estate.

RGI primarily focuses on the development and management of high-end office, retail and residential properties in central Moscow and surrounding areas, where demand outstrips supply.

Russia’s economy continues to grow fast, allowing RGI to reap the benefits. Since the year end the company has successfully arranged a secured, non-recourse term loan facility of $100 million between its LLC Central Market subsidiary and Sberbank. The loan will help fund further development. The shares were up 5% at $8.38.

Shares says: Solid growth with further potential.

by: Rachel Robson