Valencia-based property group Astroc Mediterraneo has announced it will raise as much as EUR 2 bn by issuing new shares to finance expansion abroad. In a statement to Spanish stock market regulator CNMV, the company said its board has already got approval during a shareholder meeting on Monday for the share issue. Astroc is planning to 'diversify geographically, expanding to the international arena' and is keen to invest in property companies and new projects, 'preferably in the US, Mexico and Brazil'.
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