Urbas Notifies of Intention to Create a Huge RE Group & Appreciates 8%

16/06/2014  – El Mundo

Urbas upsurged by 8% on the stock exchange market after having announced plans to absorb a few real estate firms and establish one of the biggest property groups in the country.

Compared to the day earlier, the shares shot up by 8.57% and sold for 0.038 Euros a share.

Urbas intends to absorb Alza Real Estate, Aldira Inversiones Inmobiliarias and other companies through a non-monetary fresh capital injection valued at €280 million, to be approved at the nearest stakeholders´meeting.

In parallel, the firm will enlarge its capital by another €50 million monetary ampliation activating shareholder´s pre-emptive right so that the company´s parters will have an opportunity to enlarge their stake in it.

 

Original article: El Mundo (after Europa Press)

Translation: AURA REE

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