Tag: Registered Advisor

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

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

Deutsche’s Socimi Trajano Debuts On MAB With A 4% Rise

31 July 2015 – Expansión

The socimi Trajano Iberia, which is managed and promoted by a division of Deutsche Bank, has debuted on the Alternative Investment Market (‘Mercado Alternativo Bursátil’ or MAB) with a rise of 4.01%, which saw its share price increase to €10.38.

By 12:00h, 2,650 shares in the company had been traded for a total price of €27,507.

The company, which yesterday became the sixth socimi to list on the market, debuted on the stock market after completing a €94.8 million capital increase, carried out by investors in the Wealth Management division of Deutsche Bank in Spain.

The company debuted on the market at a price of €9.98 per share, according to Spain’s Stock Exchanges and Markets body (‘Bolsas y Mercados Españoles’ or BME).

Trajano’s shares are traded through a price-setting system, which matches supply and demand through two daily auctions or “fixings” (at 12:00h and 16:00h).

The socimi has its eyes firmly set on office assets in “semi prime” locations in Madrid and Barcelona and “prime” locations in secondary cities. It is also looking at shopping centres and retail parks, as well as logistics assets in Madrid, Barcelona, Zaragoza, Valencia and the País Vasco.

The company expects to complete its investments within a maximum period of 24 months, although that timeframe may be reduced in light of the strong sentimient that currently exist in the real estate sector.

The company is managed by the team responsible for the real estate division of Deutsche Asset & Wealth Management in Spain and Portugal.

Currently, the entity manages real estate assets worth more than €46,000 million around the world, and €740 million in Spain and Portugal.

Deloitte acted as the Registered Advisor and BEKA Finance as the liquidity provider. (…).

Since last year, several companies have listed on the stock market under the socimi structure, including: Lar España Real Estate, Hispania, Merlin Properties, Axiare and Uro Property.

Original story: Expansión

Translation: Carmel Drake