15 June 2017 – Invertia
The MAB’s Coordination and Incorporations Committee has submitted a favourable report to the Board of Directors regarding the debut of Colón Viviendas on the stock market, after analysing the documentation presented by the company, according to a statement issued yesterday by the Spanish Stock Exchanges and Markets (BME).
If it receives the green light from the MAB’s Board of Directors, Colón Viviendas will become the thirty-fourth Socimi to debut on this market.
The company’s trading code will be “YCOL” and its shares will be traded through the “fixing” system, which fixes their price twice a day.
Taking into consideration the valuation report prepared by the independent expert CBRE Valuation Advisory, Colón Vivienda’s Board of Directors has set a reference value for its shares of €2.13, which represents a company market valuation of €19 million.
Armabex is the Socimi’s registered advisor and BNP Paribas España is acting as the liquidity provider.
Colón Viviendas Socimi is a real estate company dedicated to investing in residential rental assets and it is managed by Azora Gestión SCIIC.
Original story: Invertia
Translation: Carmel Drake