Bankinter’s Hotel Socimi Atom will Make its MAB Debut with a Valuation of €265.7M
21 November 2018 – Eje Prime
Atom is lining up to make its debut on the stock market. Bankinter’s hotel Socimi will ring the bell soon on the Alternative Investment Market (MAB) with a portfolio comprising 21 assets located all over Spain. The company will make its debut with a valuation of €265.7 million and a share price of €10.60 after the stock market regulator issued a favourable report for its inclusion on the alternative market, scheduled for before the end of the year.
Atom’s main partner is the Melià Group, which operates six of its establishments. In addition, the Socimi has agreements with AC Hotel by Marriott, Eurostars, Ibersol and B&B, amongst other chains.
Twelve of the company’s hotels are vacation properties, and the remaining nine are urban assets; most are four-star establishments. The properties are worth €483.5 million altogether, according to an independent valuation of the portfolio carried out by EY.
In addition to Bankinter, which owns 5.3% of the shares, other shareholders of the management company include Alcor, which controls 5% of the shares; Mistral Iberia Real Estate, with 5.15%; and Línea Directa Aseguradora, with 2%.
Original story: Eje Prime
Translation: Carmel Drake