Socimi Árima Closes €40M Capital Increase (20% Below the Forecast)

4 April 2019 – Europa Press

The Socimi Árima has completed an accelerated capital increase by raising €40 million, which fell 20% below the target of €50 million, according to the firm.

The operation, which targeted qualifying and institutional investors, was participated in by “certain” members of the management team, led by the former CEO of Axiare, José Luis López de Herrera-Oria.

All of them subscribed shares in the company at a price of €10 per share, equivalent to the debut price on the stock market in October, and below the closing price at the end of trading on Thursday (€10.20).

Despite having raised less than expected, López de Herrera-Oria concluded that the operation has been a success.

Original story: Europa Press

Translation/Summary: Carmel Drake

Héctor Colonques Acquires 4.9% of Árima for €5M

29 October 2018 – Europa Press

Héctor Colonques Moreno (pictured below, centre), the controlling shareholder of Porcelanosa, has acquired a 4.99% stake in Árima, the company constituted by the former CEO of Axiare, José Luis López de Herrera-Oria, which made its stock market debut last week with a public share offering (OPS).

Colonques has acquired half a million shares in the firm, a package worth €5 million based on the share price of €10 that was set for the IPO.

Nevertheless, that stake is currently worth €4.65 million, given that the firm’s shares are trading at around €9.30.

The investment by the co-owner of Porcelanosa follows others made by institutional investors, which are emerging in the days following the firm’s placement in the register of Spain’s National Securities and Exchange Commission (CNMV).

In this way, Bank of Montreal has acquired 9.79% of the share capital of the new Socimi, whilst Morgan Stanley has purchased 9.4% and the fund Pelham Capital another 9.9%.

Árima made its stock market debut last Tuesday, 23 October, after reducing its OPS by one third. It was set at €100 million in the end and its placement period was extended by several days (…).

Original story: Europa Press 

Translation: Carmel Drake