Tag: liquidity provider

Testa Residencial Debuts on the MAB with a Share Price Rise of 1.44%

26 July 2018 – La Información

The shares of Testa Residencial have made their conclusive debut on the Alternative Investment Market (MAB) with a rise of 1.44% to €14.10 per share. The Socimi made its stock market debut at a price of €13.86 per share, which meant that the company became the second largest on the MAB by trading value, exceeding even some of the entities listed on the Ibex such as Indra and DIA.

The Board of Directors had established a reference price for its shares of €6, which represented a market valuation for the company as a whole of €204 million. The company’s trading code is going to be “YCPS”, Renta 4 Corporate is the Registered Advisor and Renta 4 Banco is acting as the Liquidity Provider.

Testa Residencial is the leading private company in the residential rental market in Spain (excluding portfolios owned by financial institutions). It is owned by Santander (36.8%), BBVA (25.6%), Acciona (20%) and Merlin Properties (17%).

The Socimi operates in the residential segment in Spain and has a portfolio comprising more than 10,000 homes. Its assets are primarily located in Madrid, although it also has a presence in San Sebastián, Barcelona, Las Palmas de Gran Canaria, Palma de Mallorca and Valencia. Its properties were valued at €2.276 billion by Savills Aguirre Newman at the end of 2017 and the majority of them, 77.5% of the GAV, are located in premium locations.

In addition, over the last year, the combined value of its properties has increased by almost €73 million, according to the latest data.

Testa had initially planned to make its IPO on the main stock market in June this year. The rental home Socimi wanted to make its debut through a public share sale offer (OPV) and a public subscription offer (OPS) of new shares, the latter for €130 million, both aimed at institutional investors. In the end, in light of the political situation, the firm in which Merlin Properties holds a stake decided to delay its debut until now and change its course towards the Alternative Investment Market.

Original story: La Información 

Translation: Carmel Drake

Socimi Tander Inversiones Debuts on the MAB

12 January 2018 – Expansión

The listed real estate investment company (Socimi) Tander Inversiones has debuted on the Alternative Investment Market (MAB) with no change to its initial price, which was fixed at €9.50 per share.

Tander Inversiones, which is trading under the code “YTAN”, was listed through the fixing contracting system, which sets prices twice a day, in such a way that the next variation will be published at 16:00.

The starting price of €9.50 per share, which had been established by the Socimi’s Board of Directors, represents a company valuation of €49.8 million.

Renta 4 Corporate served as the registered advisor, whilst Renta 4 Banco was the liquidity provider.

Tander Inversiones Socimi is a company dedicated to investment in properties, primarily retail premises allocated for rent.

The Socimi owns a portfolio of assets comprising five retail premises in Barcelona and another one in Santander.

Original story: Expansión 

Translation: Carmel Drake

PSN Gestión Socimi Will Debut on the MAB on 22 Dec

20 December 2017 – La Vanguardia

The Board of Directors of the Alternative Investment Market (MAB) has approved the incorporation of the company ‘PSN Gestión Socimi’ into the Socimi segment. It represents the forty-fourth company (of this kind) to join the exchange. Its shares will start trading on Friday 22 December.

The incorporation of the company, which specialises in property investment, comes after the Board’s analysis of the information submitted by the company and after the Coordination and Incorporations Committee issued a favourable assessment report, according to sources at the MAB.

The company’s trading code will be “YPSN”. The registered advisor isVGM Advisory Partners, and Banco Sabadell will act as the Liquidity Provider.

The Company’s Board of Directors has established a reference value for each share of €14.20, which corresponds to a company valuation of €28.1 million in total.

PSN Gestión Socimi is a real estate company, dedicated to property investment, primarily focusing on offices and retail premises to let.

The company owns a portfolio of assets comprising one entire building, dedicated to hotel use, as well as several offices distributed across 27 buildings in 21 cities in Spain and Portugal.

Original story: La Vanguardia

Translation: Carmel Drake

MAB Approves Stock Market Debut Of Socimi Numulae

19 July 2017 – TeleCinco

The Alternative Investment Market (MAB)’s Coordination and Incorporations Committee has sent a favourable evaluation report to the MAB’s Board of Directors regarding the Socimi Numulae’s compliance with the joining requirements after it had evaluated all of the documentation submitted.

The company’s debut will require prior approval by the MAB’s Board of Directors. The company’s trading code will be YNUM and its shares will be traded through the price fixing system.

Renta 4 Corporate is the registered advisor and Renta 4 Banco is the liquidity provider.

The company’s Board of Directors has set a reference value of €1.90 for each one of its shares, which represents a total company valuation of €10.4 million. Numulae is a real estate investment company, which aims to provide its investors with returns from rental income and capital appreciation based on the selective acquisition and active management of real estate properties in Spain.

Between 10 and 15 new Socimis will debut in H2

Renta 4 Banco predicts that between 10 and 15 additional Socimis will make their debuts on the MAB between July and December, which means that the entity expects there to be between 45 and 50 companies of this kind trading on the stock market by the end of the year (…).

One of the companies that is expected to make its debut is Sareb’s Socimi, Témpore Properties, which has engaged Renta 4 Banco as its global advisor for its stock market debut, which is scheduled to happen before the end of the year. Currently, only two listed real estate investment companies (Socimis), Merlin and Colonial, trade on the Ibex 35, the most prestigious index in Spain.

Original story: TeleCinco

Translation: Carmel Drake

Tarjar Xairo Socimi Will Debut On The MAB On 20 Feb

15 February 2017 – Europa Press

The Socimi Tarjar Xairo will start trading on the Alternative Investment Market (MAB) on Monday 20 February, after the index’s Coordination and Incorporation Committee sent a favourable report about the Socimi to the MAB’s Board of Directors yesterday.

In this way, following the corresponding approval by the MAB’s Board of Directors, Tarjar Xairo Socimi will become the thirtieth real estate investment company to join the market and it will do so with the trading code ‘YTAR’.

It shares will be debuted through a price-fixing system and Renta 4 Corporate will act as the registered advisor, whilst Renta 4 Banco will serve as the liquidity provider.

The Socimi’s Board of Directors has set a reference value of €53.12 per share, which represents a total market capitalisation of around €9.2 million.

Tarjar Xairo Socimi is the owner of a portfolio of properties comprising four industrial buildings, two of which are located on an industrial estate in Coslada (Madrid), one industrial warehouse in Torrejón de Ardoz (Madrid) and one industrial warehouse in Ribarroja del Turia (Valencia).

As at 30 June 2016, the company recorded a profit of €118,710 and revenues of €377,509.

Original story: Europa Press

Translation: Carmel Drake

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

Socimi Quonia Will Debut On The MAB On 18 July

13 July 2016 – Expansión

The Socimi Quonia will debut on the Alternative Investment Market (MAB) on Monday (18 July), to become the twentieth listed property investment company to join the market.

On the basis of the valuation report from the independent expert, Ernst & Young Servicios Corporativos, the company’s Board of Directors has set the reference value for each one of its shares at €1.65, which represents a market capitalisation for the company of €41.97 million.

The company will list using the price fixing system, according to a statement by Spain’s Stock Exchanges and Markets (BME).

The company owns a portfolio comprising rental properties used for residential and commercial purposes, located in Barcelona, Sevilla and Langreo (Asturias), with a total gross leasable area (GLA) of 12,197 sqm, excluding one ground-level car park containing 50 spaces and another underground car park containing 93 spaces.

VGM Advisory Partners is the registered advisor of the company and Santander Investment Bolsa is acting as the liquidity provider.

In the last two weeks, the Socimis Vitruvio Real Estate and Asturias Retail and Leisure, have also joined the MAB. The latter owns the Intu Asturias shopping centre, amongst other assets.

Original story: Expansión

Translation: Carmel Drake

Asturias Retail & Leisure Socimi Will Debut On The MAB On Friday

29 June 2016 – Telecinco

The company Asturias Retail and Leisure Socimi will debut on the Alternative Investment Market (MAB) on Friday 1 July, after it received the green light from the MAB’s Coordination and Incorporations Committee, which has confirmed that it fulfils all of the necessary requirements for listing.

Using the valuation report prepared by the independent expert Ernst & Young Servicios Corporatives, the company’s Board of Directors has set a reference value of €19.15 for each one of its share, which values the company at €95.8 million.

The debut of the company, which will become the eighteenth Socimi to join the MAB, still requires prior approval from the MAB’s Board of Directors.

The company’s trading code will be YAST and its shares will be traded through the price fixing system. Renta 4 Corporate is the company’s registered advisor, whilst Renta 4 Sociedad de Valores is acting as its liquidity provider.

Asturias Retail and Leisure Socimi owns three properties in Oviedo, through two subsidiaries: the shopping centre known as Intu Asturias and seven retail premises, a hypermarket leased to Eroski and a service station.

Original story: Telecinco

Translation: Carmel Drake