WICLO raised €3.325m from investors through a private placement of shares in a Cypriot holding company, CG Holdings - Magyar (1) Limited ("CG Holdings"). WICLO used its in-house resources to prepare the legal and corporate documentation for the private placement.
WICLO is excited about its appointment as adviser to CG Holdings and its remit will be to deploy CG Holdings' funds through the acquisition and renovation of residential real-estate in downtown Budapest. WICLO will also be instrumental in the design and project management phases and hopes to enable CG Holdings to achieve an IRR of at least 20% year-on-year for the next five years.
NOTE: WICLO is not authorised by the UK Financial Services Authority (FSA) to make financial promotions or provide investment advice. In deciding whether to make an investment in any WICLO project, investors were recommended to seek advice from an investment professional although, in this instance, each investor qualified as an exempt person on account of being either a high net worth or sophisticated investor.
