Press Release

First Initial Access Document on BME Scaleup from NORDESTE PROPERTIES SOCIMI

31 May, 2024
  • It is the fourth company to register an Initial Access Document (DIAM) for this market

The Market Coordination and Incorporations Committee considers that NORDESTE PROPERTIES SOCIMI will meet the requirements to join the BME Scaleup trading segment.

The Board of Directors of the company, has taken as a reference for the start of trading of the shares a price of €12.60 per share, taking into account the valuation report made by an independent expert, which implies a total valuation of the company of €629.6 million.

The company's Registered Advisor is VGM Advisory Partners.

NORDESTE PROPERTIES SOCIMI is a holding company that owns 13 properties in Spain, 12 hotels of 5 and 4 stars, mainly located in cities, and 1 building in Valencia. All the hotels are leased to the company H Santos D, which has extensive experience in the sector and operates them under the Hoteles Santos brand.

The Initial Public Offering Document of NORDESTE PROPERTIES SOCIMI is available on the BME Scaleup website, where all the information related to the company and its business can be found.

This new BME market is aimed especially at scaleups, companies with a proven business model, in an accelerated growth phase for at least three years, with a minimum turnover of one million euros and/or an investment of at least that amount. This market, which offers the necessary transparency to investors and simplifies the incorporation requirements for companies, is also open to other types of companies such as SMEs, SOCIMIs or family businesses seeking a first contact with the capital markets.

Among the advantages of BME Scaleup for companies are its ability to boost growth with funds for financing, obtain greater prestige and brand visibility, the possibility of expanding its investor base, the boost to inorganic growth and greater ease of attracting and retaining talent.

To be listed on this market 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. It will not be necessary to have a liquidity provider or to comply with a minimum free float.

BME Scaleup already has 12 registered advisors.

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