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Socimi Vbare Will Debut On The MAB On 23 Dec
21 December 2016 – Finanzas.com
The Socimi Vbare Iberian Properties is set to join the Socimi segment of the Alternative Investment Market (MAB) and will start trading on Friday, 23 December.
The decision was taken by the MAB’s Board of Directors, which approved the incorporation of the company into the Socimi segment on Tuesday, after analysing the information submitted by the company and following the issuance of a favourable evaluation report from the Coordination and Incorporation Committee.
On the basis of a valuation report prepared by Grant Thornton, Vbare’s Board of Directors has set a reference value of €12.90 for each one of its shares, whereby valuing the company at €20.6 million.
The trading code of the company, the twenty-eighth Socimi to join the MAB, will be ‘YVBA’ and it will debut through a price fixing system. Renta 4 Corporate is the registered advisor and Renta 4 Banco is the liquidity provider.
The Socimi specialises in residential rental properties and its strategy focuses on the acquisition of real estate assets, their renovation and subsequent rental. It currently owns 183 real estate assets located in Madrid.
Original story: Finanzas.com
Translation: Carmel Drake