It is the owner of over 1,000 offices operated by Banco Santander
The Admissions Committee of the Mercado Alternativo Bursátil (MAB) has submitted to the Board of Directors a favourable report on URO PROPERTY HOLDING, stating that the company is eligible for admission to the SOCIMIs (REITs) segment of this market, following a review of all the information presented by the company.
The company is scheduled to start trading next Thursday, March 12, pending the approval by the Board of MAB.
URO PROPERTY HOLDING´s Informative Document is available on MAB’s website (www.bolsasymercados.es/mab), where all the information about the company and its activities can be found. It is the fourth SOCIMI to list on MAB.
The company’s trading code will be YURO and trading will be through a price setting mechanism which will match buy and sell orders by means of two daily auction periods or “fixings”, at 12 hrs and at 16 hrs.
Renta 4 is acting as Registered Adviser and Liquidity Provider.
Circular 2/2013, which governs the regime applicable to SOCIMIs, requires independent expert appraisals. Based on the report for URO PROPERTY HOLDING, each of its shares was valued by its Board of Directors at €100, giving the company an overall valuation of €259.7 million.
URO PROPERTY HOLDING is a real estate company with most of its assets under rental agreements. In 2007 it acquired 1,152 offices from Banco Santander and rented them out under a long term contract.