Press Release

Nordeste Properties Socimi joins BME Scaleup on June 10

6 June, 2024
  • The company is the fourth to debut on this new BME market

The Board of Directors of BME Scaleup has approved the incorporation of NORDESTE PROPERTIES SOCIMI on 10 June, once all the documentation submitted by the company has been analysed and studied and a favourable evaluation report has been issued by the Market Coordination and Incorporation Committee.

The company's Board of Directors has taken a reference price of 12.60 euros per share as the starting point for trading, taking into account the valuation report by an independent expert, which implies a total valuation of the company of 629.62 million euros.

The trading code of the company shall be ‘SCHST’. The Registered Adviser of the company is VGM Advisory Partners.

NORDESTE PROPERTIES SOCIMI is an asset-holding company that owns 13 properties in Spain, 12 5 and 4-star hotels, 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 Market Access Document of NORDESTE PROPERTIES SOCIMI is available on the BME Scaleup website, where you can find all the information about the company and its business.

This new BME market is particularly aimed at scaleups, companies with a proven business model, in an accelerated growth phase for at least three years, with a minimum turnover of €1 million and/or an investment of at least that amount. This market, which offers the necessary transparency to investors and simplifies 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 their 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 adviser registered with the market and publish audited annual accounts. A liquidity provider and a minimum free float are not required.

BME Scaleup already has 12 registered advisors.

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