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Uro Property To Launch For €259M On MAB Tomorrow

11 March 2015 – Expansión

Uro Property Holding, the real estate investment company (Socimi), whose primary shareholders are Santander, Atisha (the former Sun Group) and CaixaBank, will begin its journey on the Alternative Investment Market (Mercado Alternativo Bursátil or MAB) tomorrow.

In total, the company will start trading 2.59 million shares, at a starting price of €100/share, bringing its market capitalisation to €259.7 million. Based on this market value, Uro Property will be the largest company on the MAB, exceeded only by Gowex (€572 million), which was suspended from trading at the beginning of July after accounting regularities surfaced at the company.

Uro Property will hereby become the 27th company to list on the alternative market, which is aimed at small and mid-market companies.

PwC has acted as the auditor of the company, whilst Renta 4 has been the registered advisor and will serve as the liquidity provider in this IPO.

Uro, which will list (its shares) through a fixing procedure, whereby prices will be published twice a day – at 12:00 and 16:00 – owns 1,136 branches, which it leases to Santander. In 2013, its income from the rental of all of its real estate assets amounted to €125.9 million.

Original story: Expansión (by D.E.)

Translation: Carmel Drake