Hispania Activos Inmobiliarios Climbs by 3.25% at Flotation

18/03/2014 – El Mundo

Hispania Activos Inmobiliarios went up by 3.25% at the opening day in the Stock Exchange Market. The flotation concluded with €10.325 per share, despite a slight decline by 1.39% registered only in the Madrid Stock Exchange.

The company re-appreciated by 6% during the session in which it has always been supposed to appear for more than €10 per share starting price. Precisely, the shares of Hispania sold for between €10.300 and €10.650 to investors, since the tranditional bell rang for its flotation at 12 o´clock.

Hispania Activos Inmobiliarios, chaired by Rafael Miranda, is the second firm becoming listed this year after Lar España Real Estate, aSocimi of Grupo Lar (price at the end of the session: €10.550, + 0.47%).

The freshly listed company has been placed on the stock market with a €500 million capital. Multi-millionaire George Soros entered it with €92 million that guaranteed him an 18.4% stake.

Hispania´s target is to creat a high quality portfolio including residential property, offices and hotels in Spain. Later, it will invest in students´residences. (…) Special focus will be put on the property sold by Sareb and banks.

 

 

Original article: El Mundo (Europa Press)

Translation: AURA REE

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