Hili Properties plc has confirmed the official launch of a conditional voluntary public takeover bid by its parent company, Hili Ventures Limited, for the acquisition of all issued share capital in the company.

The offer, set at €0.24 per share, follows the initial announcement of intent made on 18th February.

According to a company announcement issued on Friday (today), Hili Properties received notice confirming the formal launch of the bid under the terms outlined in an Offer Document.

The offer period will run from 26th February 2025 at 08:30 CET until 25th March 2025 at 12:00 CET. Shareholders eligible for the offer are those registered at the Central Securities Depository of the Malta Stock Exchange as of 20th February 2025.

This bid marks a significant step in Hili Ventures’ strategy, as it seeks to fully consolidate ownership of Hili Properties, which first went public in 2021 with shares priced at €0.27 each.

Since then, the company’s share price has underperformed, trending downward over the years. The last time shares came close to the €0.24 mark was in November 2024, and the last instance of trading above that price was in July 2023.

Hili Properties has been active in corporate restructuring and acquisitions in recent years. Most recently, it completed an intra-group share transfer, acquiring full ownership of Premier Assets S.R.L. and Hili Premier Estates Romania S.R.L. Additionally, it finalised the acquisition of the remaining 25 per cent shareholding in Baneasa Real Estate S.R.L., securing sole ownership of the MIRO Office Building in Bucharest, Romania.

The MIRO building, a Class A mixed-use property with approximately 23,000 sqm of leasable space, is fully occupied and hosts various global brands. Located in Bucharest’s Baneasa area, the property is recognised for its sustainability credentials, holding BREEAM “Excellent” and WELL “Platinum” certifications.

Hili Properties' portfolio extends beyond Romania, encompassing a diversified mix of properties in multiple jurisdictions. Among its notable assets is Harbour (APM) Investments Limited, which it acquired in April 2022, adding approximately 92,000 sqm of land in Bengħajsa to its holdings.