MHV Mediterranean Hospitality Venture has secured approval to list 101.41 million additional shares on the Cyprus Stock Exchange’s (CSE) Emerging Companies Market following a series of property acquisitions from its parent company, Prodea Real Estate Investment Company.

The additional shares, each with a nominal and issue value of €1, were issued to Prodea in exchange for its interests in five real estate and hospitality companies across Cyprus, Greece and Italy.

The CSE approved the admission of the shares to trading on the Emerging Companies Market (ECM), according to an information document dated September 16, 2026.

The transaction brings MHV’s issued share capital to €221.61 million, comprising 221.61 million ordinary shares, of which 120.20 million were already listed and 101.41 million are the additional shares now subject to admission.

MHV said the acquisitions form part of its strategy to expand in the real estate and hospitality sectors across Cyprus, Greece and the wider Mediterranean, with the aim of becoming a leading institutional owner of tourism-related assets in Southeast Europe.

The largest share allocation, involving 44.91 million shares, was made in exchange for Prodea’s 75 per cent interest in Fond Five Lakes Fund, an Italian closed-end real estate fund that owns a five-star hotel under development in Cortina d’Ampezzo.

The hotel is expected to operate under Accor’s Emblems brand and will have 80 rooms, including 27 suites.

A further 13.83 million shares were issued for Prodea’s entire interest in Rinascita S.A., which holds a long-term lease on an eight-storey property in central Athens operating as a 200-room Moxy hotel under a franchise agreement with Marriott International.

The Moxy hotel opened in 2022 following renovation, while Rinascita reported approximately €23.39 million in assets, €21.85 million in liabilities and €1.50 million in operating profit for 2025.

MHV also issued 26.42 million shares for Prodea’s 100 per cent interest in Papalon Investments, which holds a 30 per cent stake in MHV Bluekey One, owner of the Porto Paros Resort Hotel complex on Paros.

The remaining 70 per cent of MHV Bluekey One is already directly owned by MHV.

Another 10.72 million shares were issued for Prodea’s entire interest in Mitropoleos 23 Hospitality, which owns a renovated mixed-use building in central Athens comprising a ground-floor shop and restaurant, a hotel and a three-storey underground car park.

The building is currently rented to third parties, the company said in its filing to the CSE.

The remaining 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 issued, an existing lease agreement with a hotel operator is expected to take effect and the property will be converted into a five-star hotel with 37 rooms.

The share issues were approved unanimously by MHV’s board and shareholders on March 19 and June 17, 2026, under framework subscription and contribution agreements with Prodea.

The shares were issued at €1 each and the shareholders waived their pre-emption rights.

The total value of the additional shares corresponds to the median net value of the contributed interests based on valuations obtained from independent experts.

MHV was incorporated in Cyprus in 2018 and was listed on the CSE Emerging Companies Market in October 2023.

The company invests in, develops and manages real estate assets in the hospitality, residential and commercial sectors across Cyprus, Greece and the Mediterranean.