Tag: market valuation

Socimi Go Madrid Benz Debuts on the MAB with a €60M Valuation

19 September 2018 – Eje Prime

The Socimi Go Madrid Benz, whose only asset is the Las Mercedes business park, is going to make its debut on the Alternative Investment Market (MAB) on Friday with a valuation of €60 million.

The company is going to become the 18th Socimi to start trading on that market. The Las Mercedes business park comprises nine buildings, an underground parking lot and a restaurant and leisure area.

Go Madrid Benz is not planning to access financing to expand its portfolio but is instead focusing its strategy on the management of its only asset to “maximise returns for investors”.

The Socimi expects to close the year with revenues from rental income of €8.59 million and profits of €1.03 million. Go Madrid Benz acquired the complex in 2016 for €131.36 million. The main tenants of the park include the Spanish Medicines Agency, Enaire, Altran Innovación, Applus Norcontrol, Ibermática, and Xerox España.

Original story: Eje Prime

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