Catalan Socimi Quonia: CNMV Authorises Market Debut

28 June 2016 – Valencia Plaza

The Catalan Socimi Quonia now has an ISIN code, required to list on any organised market, such as the stock exchange, according to sources. Specifically, it was issued the passport by the National Agency for Securities Codification (ANCV), which forms part of Spain’s National Securities and Exchange Commission (CNMV) on 7 June.

This code is essential for listing and it represents an international reference number that may be used on capital markets around the world. In the case of Quonia, the plan is for it to list on Spain’s Alternative Investment Market (the MAB), where a sizeable number of Socimis are already listed.

And others, such as GMP, the powerful Madrilenian Socimi, which sold the Mercado de Campanar in Valencia just four months ago, will not take long to join it, as its also now has the “permit” required to list on the stock market.

Purchase of Hotel Internacional

In theory, the debut of that group (GMP), founded by the Montoro family – in which the sovereign fund Singapur GIC owns a 30% stake – was scheduled for the summer, according to sources consulted by Valencia Plaza. However, in light of the current instability following the triumph of Brexit, we will have to wait and see what the heads of GMP, the owners of Madrid’s iconic BBVA Tower, end up deciding.

Quonia must be thinking the same. The company specialises in the rental of real estate asset and was founded in Barcelona at the end of July 2010. It is led by Divo Milan Haddad, a businessman whose investments are focused on the real estate sector, both in Europe and Latin America, primarily in Mexico.

Quonia acquired Hotel Internacional de la Rambla from Husa last April, after the vendor filed for bankruptcy last autumn, after receiving authorisation from the Catalan court for just over €11 million.

Original story: Valencia Plaza (by Luis A. Torralba)

Translation: Carmel Drake

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