The Socimi Hadley Will Debut On MAB ON 15 June

14 June 2016 – Expansión

The Socimi Hadley Investment will debut on the Alternative Investment Market (MAB) on Wednesday 15 June 2016, at a price of €6.15/share, which represents a market capitalisation of €30.75 million.

Hadley, the seventeenth Socimi to debut on the MAB, owns three retail premises, one in Palma de Mallorca, another in Pamplona and a third with a warehouse in Tenerife. It also holds “surface rights” (derechos de superficie) over homes in the neighbourhoods of Vallecas and Ventilla de Madrid.

In the case of the latter, the company leases the homes, which it acquired under a surface rights agreement, to Madrid’s Housing Institute (Ivima), and has recognised a receivable for the present value of the minimum payments to be received from the tenant, discounted at the project’s implicit interest rate. These surface rights are valid until 2022 and 2023, respectively.

Hadley’s sole shareholder is Stirling Adjacent Investments, a firm owned by the company TAO Finance 3, which, in turn, is held by private investment funds. The management of the Socimi’s asset portfolio is performed by Servihabitat.

The real estate firm will debut on the MAB under the ticker symbol YHLY and its shares will be traded under the fixing price system.

Original story: Expansión

Translation: Carmel Drake

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