MHV secures CSE approval to list 101.41 million additional shares
MHV Mediterranean Hospitality Venture will issue shares to Prodea Real Estate Investment Company for interests in five property and hospitality companies.
Nicosia, Cyprus. MHV Mediterranean Hospitality Venture has received approval to list 101.41 million additional shares on the Cyprus Stock Exchange’s Emerging Companies Market following property acquisitions from its parent company, Prodea Real Estate Investment Company.
The shares were issued to Prodea in exchange for interests in five real estate and hospitality companies in Cyprus, Greece and Italy.
Share admission
The Cyprus Stock Exchange approved the admission of the additional shares to trading on the Emerging Companies Market, according to an information document dated September 16, 2026.
Each share has a nominal and issue value of €1. The transaction increases MHV’s issued share capital to €221.61 million, comprising 221.61 million ordinary shares. Of these, 120.20 million shares were already listed, while 101.41 million are subject to admission.
Expansion strategy
MHV said the acquisitions are part of its strategy to expand in the real estate and hospitality sectors across Cyprus, Greece and the wider Mediterranean.
The company said it aims to become a leading institutional owner of tourism-related assets in Southeast Europe.
Italian hotel development
The largest allocation of 44.91 million shares was issued in exchange for Prodea’s 75 per cent interest in Fond Five Lakes Fund, an Italian closed-end real estate fund.
The fund owns a five-star hotel under development in Cortina d’Ampezzo. The hotel is expected to operate under Accor’s Emblems brand and will include 80 rooms, including 27 suites.
Athens hotel asset
MHV issued a further 13.83 million shares for Prodea’s entire interest in Rinascita S.A., which holds a long-term lease on an eight-storey property in central Athens.
The property operates as a 200-room Moxy hotel under a franchise agreement with Marriott International. The hotel opened in 2022 following renovation.
Rinascita reported approximately €23.39 million in assets, €21.85 million in liabilities and €1.50 million in operating profit for 2025.
Paros resort interest
MHV also issued 26.42 million shares for Prodea’s 100 per cent interest in Papalon Investments.
Papalon Investments holds a 30 per cent stake in MHV Bluekey One, the owner of the Porto Paros Resort Hotel complex on Paros.
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