The Socimi ISC Fresh Water (Spanish REIT), owner of 213 assets leased to Banco de Sabadell, started trading on the MAB today.
ISC Fresh Water Investment will become the twentieth listed real estate investment company to debut on the Alternative Investment Market (MAB) on Friday.
On the basis of the valuation report from the independent consultant Ernst & Young the company’s Board of Directors has set the reference value for each one of its shares at €22.86, which represents a market capitalisation for the company of €171.38 million.
ISC Fresh Water Investment is the owner of 213 assets, all of which are leased to Banco de Sabadell, located in 13 autonomous regions, 32 provinces and 125 cities.
By region, most of the properties are concentrated in Cataluña (46.5%), followed by the Community of Madrid (11.3%) and the Community of Valencia (10.8%).
The company will list using the price fixing system, according to a statement by Spain’s Stock Exchanges and Markets (BME).
Renta 4 Corporate is the company’s registered advisor, whilst Renta 4 Sociedad de Valores is acting as the liquidity provider.
In addition, the Socimi Quonia is scheduled to debut on the MAB on Monday at a price of €1.65 per share, which represents a market capitalisation for the company of €41.97 million.
Recently, the Socimis Vitruvio Real Estate and Asturias Retail and Leisure have also joined the MAB. The latter owns the Intu Asturias shopping centre, amongst other assets.