PRESS RELEASE

VBARE Iberian Properties SOCIMI receives favourable report from MAB

The Coordination and Admissions Committee of the MAB has submitted to the Board of Directors a favourable report on VBARE Iberian Properties SOCIMI,stating that the company is eligible for admission to the SOCIMIs (REITs) segment of the market, following a review of all the information presented by the company.

 

Prior to its listing on MAB, which requires the final approval of MAB’s Board of Directors, the company will carry out an initial public offering of newly issued shares.

 

VBARE Iberian Properties SOCIMI’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.

 

Renta 4 Corporate is acting as Registered Adviser for the company. Renta 4 Banco will act as Underwriter, Liquidity Provider and Agent Entity and additionally Value Base Underwriting and Securities Distribution wil act as Underwriter only for the shares  that are issued in Israel and among qualified investors.

 

Based on the appraisal report by independent expert Grant Thornton, the reference value set by the company's Board of Directors for each of the shares is €12.9, which brings its overall valuation to €20.6 million. 

 

VBARE Iberian Properties SOCIMI specialises in residential rental and its strategy is focussed on the acquisition of real estate assets, its restoration and rental. It currently owns 183 real estate assets, all of which are located in Madrid.

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