London Stock Exchange: Welcome Stories

Published on: "London Stock Exchange"

The London Stock Exchange is delighted to welcome Dolphin Capital Investors Limited (‘DCI.L’) to AIM. The company is a British Virgin Islands-based dedicated investment vehicle investing exclusively in residential resort developments in Greece, Cyprus, Turkey and Croatia.

The Investment Manager of Dolphin Capital Investors is Dolphin Capital Partners Limited, an independent investment management business founded in 2004 by Miltos Kambourides and Pierre Charalambides.

Dolphin Capital Investors invests in sophisticated residential resort developments at an early stage in Southeast Europe, a region that is emerging as an alternative destination to Spain and Portugal for the holiday and retirement home market.  These investments typically comprise residential units (usually several hundred), integrated with leisure components, such as golf, polo, hotel, marina, spa, targeting buyers from Northern Europe and Russia.

Dolphin Capital Investors has successfully placed 104 million new ordinary shares at 68 pence per share raising approximately £70.7million or €104million before expenses. The majority of the proceeds of the listing will be used to invest in an initial portfolio of Projects sourced over the past two years. Dolphin Capital Investors will continue to use its first-mover advantage in the Region to select the best investment opportunities in the Region and profit from compelling demand/supply conditions.

Miltos Kambourides, Founder and Managing Partner of Dolphin Capital Partners, said: “We are delighted the placing has been so well received and we welcome our new shareholders.  DCI is now in an excellent position to use its first mover advantage and capitalise on a wide range of investment opportunities that we have sourced over the past two years.  We look forward to further expanding our partnerships with leading developers and operators in the development of what will be a unique portfolio of sophisticated residential resorts in Southeast Europe.”

Panmure Gordon is broker to the placing and Grant Thornton Corporate Finance is the Nominated Adviser.

Source: "London Stock Exchange"