Tag: new listings

Agartha Real Estate Debuts on Euronext Access Priced at €1.5/Share

25 July 2019 – Richard D. K. Turner

The socimi Agartha Real Estate, controlled by Agartha Capital, debuted on the Euronext stock exchange priced at 1.5 euros per share, valuing the company at 28 million euros.

Agartha’s activity involves the acquisition of property assets, primary focusing on the development of co-working and co-living activities. The company currently has three property assets located at calle Piedmont 23, Calle Serrano Anguita 13 and Calle Javier Ferrero 10, in Madrid.

Original Story: Eje Prime

Torimbia to Debut on MAB at €27.40 Per Share

20 July 2019 – Richard D. K. Turner

The socimi Torimbia will debut on Madrid’s alternative stock market (MAB) after receiving the necessary approvals from the MAB’s board of directors. The company will trade under ‘YTRM’, with Renta 4 Corporate listed as the registered advisor and Renta 4 Banco as Liquidity Provider. The listing would set the firm’s shares at 27.40 euros, giving the socimi a total value of 140 million euros.

Torimbia, which incorporated in 1966, controls and operates eight real estate assets including three hotels, three commercial premises and two offices in Madrid, with a total gross leasable area of ​​34,620 square meters.

Original Story: Valencia Plaza

Inbest Debuts on MAB Valued at €83 Million

10 July 2019 – Richard D. K. Turner

Inbest, a socimi which focuses its investments on major retail store locations, debuted on Spain’s alternative stock market (MAB) valued at 83 million euros. The socimi owns three El Corte Inglés commercial premises and the commercial gallery at Madrid’s Edificio España.

The company, which was founded by Corpfin Capital and currently chaired by Javier Basagoiti, is structured in four investment vehicles that have a total investment capacity of 278 million euros.

Original Story: Eje Prime

 

Millennium Hotels Goes Public on MAB at €5 Euros Per Share

5 July 2019 – Richard D. K. Turner

Millenium Hotels Real Estate Société debuted yesterday, July 4, on the Alternative Stock Market (MAB), valued at 250 million euros. The company immediately entered the ranks of the ten largest listed socimis on the stock exchange. A favourable valuation report set the share price (“YMHRE’) 5 euros.

Millenium Hotels is a Spanish socimi that focuses on the acquisition of hotel buildings to lease to dedicated. The firm has an investment capacity of 500 million euros, which it intends to deploy fully within the next eighteen months. Millenium currently owns five assets, two of which are already in operation.

Original Story: Europa Press

Inbest to Debut on MAB on July 9

5 July 2019 – Richard D. K. Turner

Inbest Prime Inmuebles, the socimi which owns commercial premises leased to El Corte Inglés and the retail gallery in the Madrid’s Edificio España, will debut on Spain’s Alternative Stock Market (MAB) next Tuesday, valued at 83 million euros. The firm, which is controlled by Corpfin Capital, consists of a holding company which controls subsidiary socimis.

The first, Assets I, has a portfolio of four retail stores, all leased to El Corte Inglés, and an office building. The assets, which at valued at €189.6 million, are located in Madrid, Bilbao, Valencia and Las Palmas.

The second, Assets II, was recently created but already controls a 15,000-m2 retail gallery in the Edificio España in Madrid. Inbest agreed to pay 160 million euros for the asset in January.

Original Story: Europa Press

Photo: EFE / J.J. GUILLÉN

 

Trivium & Millenium to Debut on MAB This Week

1 July 2019 – Richard D. K. Turner

Trivium Real Estate and Millennium Hotel Real Estate  are set to debut on Spain’s Alternative Stock Market (MAB) this week. The two socimis will start trading at 51 and 5 euros per share, respectively, becoming the sixth and seventh company to enter the market in the year.

Trivium, which is specialised in the management of commercial premises has a valuation estimated at more than 255 million euros, based on a portfolio of properties worth €488 million.

Millennium Hotels Real Estate I runs two existing hotels and has three more in development.

Original Story: Expansión

 

Silicius Plans Stock Market Listing in 2020

29 June 2019

Sicilius, a socimi currently valued at 168 million euros, is planning on a listing on the MAB or even the Spain’s porincipal stock market, once it reaches its goal of €700 million to €1 billion under management. The firm is busily increasing its portfolio, while looking for additional partners to help it reach its goal.

Mazabi, which owns the socimi, is also planning to transfer up to 740 million euros in assets to the firm by the end of the year.

Original Story: Merca2 – Carlos Lospitao

Trivium to List on MAB with Market Value of €255MM

28 June 2019

Trivium, a Spanish socimi which invests in retail assets, will go public on MAB, the alternative stock market, with a market value of 255 million euros. The socimi’s real estate portfolio currently consists of 362 commercial premises and more than 9,400 parking spaces. The firm has a presence in shopping centres such as the Villa Real in Santander and the Gran Casa in Zaragoza.

The assets add up to a total gross leasable area (GLA) of 116,437 square meters, valued at 488 million euros. Trivium will also invest 38.8 million euros in renovating and modernising its holdings.

Original Story: EjePrime

Socimis to Account for 66% of Listings on Spain’s MAB by July

25 June 2019

Three socimis, Millenium, Inbest and La Finca, will begin trading on Spain’s Alternative Stock Market (MAB) in the near future. After they do, socimis will account for 69 of the 103, listed companies on the exchange, equal to two-thirds of the index.

The MAB was created in 2006 and opened to small and medium-sized companies in 2008. The platform is a good vehicle for such companies since trading is normal and the market is well-regulated, but the bureaucratic hurdles to list a new company on the exchange are less intimidating.

The Spanish government approved the regulatory framework for socimis in 2012, and Entrecampos and Promorent first went public in 2013. General de Galerías Comerciales, GMP Property and Testa Residencial are the three largest listed socimis on the MAB.

To join the MAB, companies must have fully paid-up capital, audited accounts and list through an initial public offering with a minimum free float of €2m.

Original Story: ABC – Moncho Veloso

Socimi Lists its €46-Million Portfolio of Homes and Land in Madrid

27 April 2018

The countdown has started for Spain’s stock exchange to become home to a new real estate investment company listing. AP67 has received the approval to start trading on the Mercado Alternativo Bursátil (MAB).

Although the exact date of the listing is still unknown, the socimi will debut at a price of 6.65 euros per share and a market value of about 34 million euros.

The vehicle is specialised in the residential sector and has residential buildings, one residential plot of land, two industrial plots of land and several commercial premises. All the assets are located in the municipality of Leganés (Madrid) and have a market value of €46.5 million, according to calculations by the appraiser Gesvalt.

The two most valuable assets in its portfolio are a residential building and a housing development that is currently under construction: between them, they total 25.8 million euros, more than half of the total.

There are several major shareholders behind the vehicle: the minority interests that the MAB requires for a listing, as well as the architects Álvaro Rubio Garzón and Francisco Escudero López, who control more than 90% of the capital. According to the document published by the MAB, both created a property management company in 2001, based on real estate development for rental in the area of Leganés, “specifically in the main streets of the urban centre, in locations near the Universidad Carlos III and industrial property in the suburbs.”

AP67 will be added to the fifty-one socimis that are already present in the MAB and to the sector’s main players, which are on the Ibex 35 and the continuous market: Merlin Properties, Colonial, Axiare, Hispania and Lar. In its debut, the company will be advised by the registered adviser Armabex. The Renta 4 bank will act as a liquidity provider.

Original Story: Idealista

Photo: Gtres

Translation: Richard Turner