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The Coordination and Admissions Committee of the MAB has submitted to the Board of Directors a favourable report on EURO CERVANTES SOCIMI,stating that the company is eligible for admission to the market, following a review of all the information presented by the company.
The company - the 24th REIT to list on the Spanish Alternative Market (MAB) - is scheduled to start trading on 22 September, pending the approval by the Board of MAB.
The company’s trading code will be “YEUR” 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”. Renta 4 Corporate is acting as Registered Adviser and Banco de Sabadell as Liquidity Provider.
Based on the appraisal report by independent expert Ernst & Young, the reference value set by the company's Board of Directors for each of the shares is €31, which brings its overall valuation to €155 million.
EURO CERVANTES SOCIMI owns a 32.9% stake in GMP PROPERTY SOCIMI, which was admitted to trading last July.
The 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.
