MAB Approves Stock Market Debut Of Socimi Numulae
19 July 2017 – TeleCinco
The Alternative Investment Market (MAB)’s Coordination and Incorporations Committee has sent a favourable evaluation report to the MAB’s Board of Directors regarding the Socimi Numulae’s compliance with the joining requirements after it had evaluated all of the documentation submitted.
The company’s debut will require prior approval by the MAB’s Board of Directors. The company’s trading code will be YNUM and its shares will be traded through the price fixing system.
Renta 4 Corporate is the registered advisor and Renta 4 Banco is the liquidity provider.
The company’s Board of Directors has set a reference value of €1.90 for each one of its shares, which represents a total company valuation of €10.4 million. Numulae is a real estate investment company, which aims to provide its investors with returns from rental income and capital appreciation based on the selective acquisition and active management of real estate properties in Spain.
Between 10 and 15 new Socimis will debut in H2
Renta 4 Banco predicts that between 10 and 15 additional Socimis will make their debuts on the MAB between July and December, which means that the entity expects there to be between 45 and 50 companies of this kind trading on the stock market by the end of the year (…).
One of the companies that is expected to make its debut is Sareb’s Socimi, Témpore Properties, which has engaged Renta 4 Banco as its global advisor for its stock market debut, which is scheduled to happen before the end of the year. Currently, only two listed real estate investment companies (Socimis), Merlin and Colonial, trade on the Ibex 35, the most prestigious index in Spain.
Original story: TeleCinco
Translation: Carmel Drake