The Coordination and Admissions Committee of the MAB has submitted to the Board of Directors a favourable report on OPTIMUM RE SPAIN 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.
The company is scheduled to start trading on 28 September, pending the approval by the Board of MAB.
The company’s trading code will be YORS 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. Solventis is acting as Registered Adviser and Liquidity Provider.
Following the two previous capital increase operations that preceded the company’s listing, for a value of €16.61 million, the reference value set by the company's Board of Directors for each of the shares is €10, which brings its overall valuation to €50 million.
OPTIMUM RE SPAIN SOCIMI is a real estate investment company managed by BMB CAP Management, which aims to provide returns derived from rental income and return on capital generated from the selective acquisition and active management of residential property in Barcelona and Madrid. Currently, the portfolio of the company consists of fourteen properties and the company is expected to complete it in 2016 with the acquisition of an additional building.
OPTIMUM RE SPAIN 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.