The MAB-listed Socimi Jaba: 1 Month On
18 April 2016 – El Boletín
The bell rang again on Friday morning at Madrid’s Stock Exchange to mark the entry of the Socimi Jaba I Inversiones Inmobiliarias onto the Alternative Investment Market (MAB), even though the company, led by the Jordanian Walid Tawfiq Shaker Fakhouri, has been listed on the Madrilenian market since 11 March.
In this way, the firm was presented to the investment community in a ceremony at which Nadia Samara, a member of the Board of Directors, gave a speech. “This company and its arrival on the market is a sign of the commitment that the Shaker Fakhouri family has to the Spanish market and to the real estate sector”, said Samara, who added that the company hopes to “expand its investments into the tertiary sector in Spain to generate profits”.
Thus, with the IPO, Jaba seeks to “grow and attract investors to allow us to make new purchases”, given that, as the Director indicated, they have faith in the “potential for economic recovery in Spain over the short and long term”. Nevertheless, although the company has been listed on the Spanish stock market for a month now, none of its shares have been sold yet.
Jaba, which is listed with the trading code YABA, debuted with a price of €1.03 per share and a market capitalisation of €18.9 million, but its share price has not moved since then.
Currently, the holding company constituted in 2014, which changed its corporate structure from a limited liability company to a corporation, has a portfolio of real estate assets comprising four office buildings located in Madrid and Barcelona.
Original story: El Boletín
Translation: Carmel Drake