**MHV Secures Stock Exchange Approval for 101.4 Million Additional Shares**
MHV Mediterranean Hospitality Venture has received approval from the Cyprus Stock Exchange (CSE) to list an additional 101.41 million shares on its Emerging Companies Market (ECM). This decision follows a series of property acquisitions from its parent company, Prodea Real Estate Investment Company.
The newly issued shares, each with a nominal and issue value of €1, were allocated to Prodea in exchange for its interests in five real estate and hospitality companies located in Cyprus, Greece, and Italy. The CSE's approval for the admission of these shares to trading was documented on September 16, 2026.
With this issuance, MHV’s total issued share capital will rise to €221.61 million, comprising 221.61 million ordinary shares. Of these, 120.20 million shares were already listed prior to this transaction, while the newly issued 101.41 million shares are now set for admission.
The acquisitions are part of MHV's broader strategy to expand its footprint in the real estate and hospitality sectors throughout Cyprus, Greece, and the Mediterranean region. The company's goal is to establish itself as a leading institutional owner of tourism-related assets in Southeast Europe.
Among the notable transactions, the largest share allocation involved 44.91 million shares exchanged for Prodea’s 75% interest in the Fond Five Lakes Fund. This Italian closed-end real estate fund is currently developing a five-star hotel in Cortina d’Ampezzo, which is expected to operate under Accor’s Emblems brand and will feature 80 rooms, including 27 suites.
Additionally, MHV issued 13.83 million shares for Prodea’s entire interest in Rinascita S.A. This company holds a long-term lease on an eight-storey property in central Athens, which operates as a 200-room Moxy hotel under a franchise agreement with Marriott International. The Moxy hotel opened its doors in 2022 after undergoing renovations. For the fiscal year 2025, Rinascita reported approximately €23.39 million in assets, €21.85 million in liabilities, and €1.50 million in operating profit.
Further share allocations included 26.42 million shares for Prodea’s 100% interest in Papalon Investments, which owns a 30% stake in MHV Bluekey One, the owner of the Porto Paros Resort Hotel complex on Paros. The remaining 70% of MHV Bluekey One is already directly owned by MHV.
MHV also issued 10.72 million shares for Prodea’s entire interest in Mitropoleos 23 Hospitality, which manages a renovated mixed-use building in central Athens. This property includes a ground-floor shop and restaurant, a hotel, and a three-storey underground car park, all currently rented to third parties.
Lastly, 5.52 million shares were issued for Prodea’s entire interest in Metropolitan Square Hospitality, which owns a listed four-storey building in central Athens. Once the relevant building permit is secured, a lease agreement with a hotel operator is expected to be activated, converting the property into a five-star hotel with 37 rooms.
The issuance of these additional shares was unanimously approved by MHV's board and shareholders on March 19 and June 17, 2026, under subscription and contribution agreements with Prodea. The shares were issued at €1 each, and shareholders waived their pre-emption rights. The total value of the additional shares is based on the median net value of the contributed interests, as determined by independent valuations.
Founded in Cyprus in 2018, MHV was listed on the CSE Emerging Companies Market in October 2023. The company focuses on investing in, developing, and managing real estate assets across the hospitality, residential, and commercial sectors in Cyprus, Greece, and the broader Mediterranean region.