Realia Gains Maximum Since 2011 in the Middle of Sale

26/06/2014 – El Confidencial

It has been a very stressful time for Realia. In the middle of the real estate firm´s sale process, it upsurged on the stock market by 9% during one session, closing with a 3.5% jump at 1.48 Euros a share. The price is the highest since 2011.

Apart from the fact that one month ago FCC and old Caja Madrid (now Bankia) received final offers for the property company, the appreciation is due to greater trading activity which reached 5.18 million shares, two or three times more than Realia´s normal average.

Adding yesterday´s surge to the general appreciation in values of the firm, it accumulates 78% in 2014. The overhelming rally allows the price near to 1.81 €/share of its NAV (Net Asset Value). It reaches €556 million now.

At the last stakeholders´meeting held yesterday, the operation of swapping debt with Sareb for shares in the company has been approved. The “bad bank” will inject the amount at 0.24 Euros per share plus premium of 1.77 €/share and in exchange it will obtain a 4.6% stake in Realia.


Original article: El Confidencial (by R. U.)

Translation: AURA REE