Tag: Rye Bay European Master Fund

Rye Bay European Increases its Stake in Aedas Homes to More than 3%

23 August 2018 – Expansión

Rye Bay European Master Fund has declared a stake of 3.039% in the share capital of Aedas Homes, compared with the 2.072% held previously, according to the records held by the Spanish National Securities and Exchange Commission (CNMV).

That stake is equivalent to more than 1.45 million shares, which, on the basis of the most recent closing market price (€28.52), represents a market value of more than €41.57 million.

The fund that controls this 3.039% stake in Aedas Homes through financial instruments, has increased its investment in the company two weeks after Aedas signed a syndicated loan for €150 million, due to mature in two years time, in order to bring forward its land purchase strategy to build homes.

Currently, the real estate company owns a portfolio of land spanning 1.5 million m2, which it calculates will allow it to build 14,000 homes.

Original story: Expansión

Translation: Carmel Drake