Madrid, June 9 (EFECOM).- The listed real estate investment company (socimi) Nordeste Properties will join BME Scaleup, a market aimed at companies in the early development phase, tomorrow, Monday, June 10, with a valuation of 629.62 million of euros.
As reported last Thursday by Spanish Stock Exchanges and Markets (BME), the Board of Directors of BME Scaleup approved the incorporation of Nordeste Properties this Monday, June 10, after analyzing and studying the documentation presented by the company and issuing the favorable evaluation report of the Market Coordination and Incorporations Committee.
The Board of Directors of the company has taken as a reference for the beginning of the trading of the shares a price of 12.60 euros per share, taking into account the valuation report carried out by an independent expert, which implies a total valuation of the company of 629.62 million euros.
The company’s trading code will be “SCHST and the company’s registered advisor is VGM Advisory Partners.
The company’s property portfolio is valued at 592 million euros as of December 31, 2023.
The Board of Directors of the company held on April 24 decided to take the price of 12.60 euros per share as the first reference price for the start of trading of the shares on the market, so the value of the entire of the 49,970,000 shares of the company is set at 629.62 million euros.
Nordeste Properties is a property company that owns 13 properties in Spain: 12 5 and 4 star hotels, located mainly in Madrid, Málaga, Barcelona, Palma de Mallorca, Santander, Granada, Baqueira, Murcia or Zaragoza; and has a building in Valencia.
All the hotels are leased to the company H Santos D, which operates them under the Hoteles Santos brand.
To be listed on BME Scaleup, a company must be a public limited company, have a board of directors, be accompanied by an advisor registered in the market and publish audited annual accounts.
BME Scaleup already has 12 registered advisors, as reported by BME. EFECOM
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