Tag: new listings

Merlin Properties to Begin Trading This Month on Portugal’s PSI-20

3 January 2020 – The Spanish socimi Merlin Properties will debut on the Portuguese Stock Exchange this month. The firm had initially planned to begin trading before the end of last year.

Due to its size, Merlin Properties, which has traded on the IBEX 35 since 2015, will likely debut on Portugal’s PSI-20, which is run by Euronext.

La socimi española Merlin Properties debutará en la Bolsa de Valores de Portugal este mes. Debido a su tamaño, la firma, que cotiza en el IBEX 35 desde 2015, probablemente debutará en el PSI-20 de Portugal, dirigido por Euronext.

Original Story: Expansión

Translation/Summary: Richard D. Turner

Euronext Access Vies With MAB for Socimis

11 December 2019 – Euronext Access is increasingly competing for listings of socimis with Spain’s Alternative Market (MAB). The stock exchange is comparable to the MAB in that it is aimed at companies with smaller capitalisations. Euronext, however, has the added benefit of lower costs and requirements.

Those benefits, together with Euronext’s pan-European reach (with a presence in Belgium, France, Ireland, the Netherlands, Portugal, Norway and the United Kingdom), are leading a growing number of socimis to opt for a listing in Paris instead of in Madrid.

Armabex, a specialist firm in placing socimis in the MAB, is currently working with ten firms looking to debut on the French stock market in 2020. The president of the firm predicts that 20 or 25 Spanish socimis will opt for a listing on Euronext next year. If that turns out to be true, it would be a major blow to the MAB.

Since 2013, ninety-one socimis have listed in Spain, and seven of those are already trading on Euronext Access.

Original Story: El Confidencial – Ruth Ugalde

Photo: Reuters

Adaptation/Translation: Richard D. K. Turner

Silicius Starts Spending: Buys Four Buildings in Central Madrid

2 December 2019 – The socimi Silicius Inmuebles has finalised the acquisition of four properties in central Madrid for more than 35 million euros. The socimi, which is controlled by the Spanish financial group Mazabi, intends to renovate the four buildings for the residential rental market. The assets have a total surface area of ​​7,466 m2, including 5,000 m2 for 25 flats, 1,635 m2 for four stores and an 829-m2 pavilion.

The acquisition is Silicius’s first of residential assets in Spain. The firm is looking to increase and diversify its asset portfolio to reach the optimal size for its expected IPO early next year.

Original Story: Merca2 – J.R.

Adaptation/Translation: Richard D. K. Turner

Advero Properties Receives Green Light for Stock Market Listing on Spain’s MAB

8 November 2019 – Advero Properties has been approved for its stock market debut by the Alternative Stock Market (MAB). The firm’s board of directors set an initial share price of 6.5 euros, valuing Advero at 10.6 million euros.

The firm will trade under ‘YADV’. Solventis is the registered advisor of the company and will also act as a liquidity provider.

Original Story: La Vanguardia

Adaptation/Translation: Richard D. K. Turner

Mistral Iberia Real Estate to Debut on MAB Valued at €22 Million

8 October 2019 – Mistral Iberia Real Estate, a socimi partially controlled by the footballers Ronaldo Nazario, Fernando Llorente and Juan Manuel Mata, has been given the green light for a listing on the Alternative Stock Market (MAB), with an initial valuation of €22 million.

Mistral seeks diversification by investing in other existing socimis, specialising in an array of different assets.

The firm’s main partners include Ronaldo Nazario, with a 12.2% stake, Mata, with 11.2% and Llorente, with another 9.09%.

Original Story: El Confidencial – Ruth Ugalde

Photo: EFE

Adaptation/Translation: Richard D. K. Turner

Silicius Looks to List on Spain’s Continuous Market

18 September 2019 – Silicius, the socimi controlled by Mazabi, is seeking to raise €1 billion in gross investments in preparation for its debut on Spain’s Continuous Market during the first semester of 2020. That market would provide a level of liquidity that is not present in the MAB. Silicius focuses its investments in the hotel and retail sectors.

Original Story: Merca2 – Carlos Lospitao

Adaptation/Translation: Richard D. K. Turner

Mansfield Invest to Debut on MAB Today

17 September 2019 – The socimi Mansfield Invest, which is controlled by Värde Partners and which has a 37.78% stake in the La Finca socimi, will debut on the Alternative Stock Market (MAB) on September 17 at 13 euros/share, valuing the company at 115.4 million euros. Mansfield, which invests in offices for lease, was incorporated on November 16, 2015.

Renta 4 Corporate is the Registered Adviser while Renta 4 Banco will act as Liquidity Provider.

Original Story: Inversión & Finanzas

Adaptation/Translation: Richard D. K. Turner

LaFinca Global Assets Given Green Light to Debut on MAB Stock Market

9 September 2019

LaFinca Global Assets, which is owned by Grupo La Finca and Värde Partners, was given the green light by the MAB for a new stock market listing. The firm has a portfolio of ten office buildings, all of them located in Madrid, the La Finca business park in Pozuelo de Alarcón, also Madrid, along with other facilities such as the Reebok sport club, an event-space and a below ground parking lot with 590 parking spots.

The company’s assets have a total value of €726.76 million with debts of €395 million, giving it a loan-to-value ratio of 54%. LaFinca set an initial share price of €4.66, based on an analysis by Gloval, giving it an upper value of more than €176 million.

Värde Partners has signalled a potential interest in selling its 39% stake in the socimi. In such an event, Grupo La Finca would have the preferential right to acquire the US fund’s stake.

Original Story: Expansión – Rocío Ruiz

Adaptation/Translation: Richard D. K. Turner

Meridia Capital Begins Trading on Euronext Access

2 September 2019

Meridia Capital, which specializes in real estate investment in Barcelona’s 22@ technological district, began trading on Euronext Access at the end of July.

Among the socimi’s assets is an ambitious project consisting of two newly constructed office buildings and two residential buildings.

Original Story: Idealista

Adaptation/Translation: Richard D. K. Turner

Seven New Socimis Start Trading on Spain’s MAB in First Seven Months of 2019

26 August 2019

In the year to date, seven new companies, with a total capitalisation of 799.6 million euros, have started trading on Spain’s Alternative Stock Market (MAB), a testament to the pace of activity in the local real estate market.

Just in January, three companies made the leap to the MAB. Almagro Capital stared trading at 1.08 euros per share, while a few days later, Park Rose Iberoamericana began trading at 1.15 euros per share, valuing the Catalan socimi at 10.8 million euros. Urban View, a socimi which invests in rental flats, began trading at 7.2 euros per share, valuing the company at 38 million euros.

The month of July also saw important new IPOs. Trivium Real Estate starting trading with a market capitalisation of 255 million euros. One day later, Millenium Hotels Real Estate I began trading with a capitalisation of €262.5 million.  The company, which focuses on the acquisition of 4 to 5-star hotels, has two functioning hotels and three under development, with a total of about 640 rooms.

A few days later, Inbest began trading on the market through four different socimis, with a total market capitalisation of €84.7 million. One of the socimis has a portfolio of four commercial stores, all of them rented to El Corte Inglés. Another has a portfolio that includes the commercial gallery at the bottom of the Edifício España in Madrid.

Original Story: Eje Prime – Marta Casado Pla

Adaptation/Translation: Richard D. K. Turner