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Euronext today welcomed Primecity Investment plc (ALPCI), a specialist hotel investment company, to listing on Alternext in Paris. Primecity Investment is a specialist real estate investment company focused on investing in and repositioning of hotel portfolios primarily in Germany. The company targets investments in under-performing assets which are located in touristic and commercially attractive locations. PCI’s portfolio comprises 50 hotels with approximately 8,000 hotel rooms located in more than 25 attractive tourism and business locations such as Berlin, Munich, Hamburg, Frankfurt, Dresden, Düsseldorf, Mannheim and Leipzig. Primecity Investment (ticker symbol: ALPCI) was listed through the direct admission to trading on Alternext Paris of 102,633,328 following its transfer from the Marché Libre. Market capitalisation on the day of listing was around €395.14 million. Primecity Investment CEO Philipp Von Bodman, said:“We are glad to take this exciting next step of listing on Alternext which will enhance the access for our current and prospective investors. We are grateful for the lively interest and trust of our shareholders to join us for this milestone and are certain that this listing will not just support our current growth as a pure play hotel investment company but will also step up the pace.” Albert Ganyushin, Head of International Listings at Euronext added: “We are delighted to welcome Primecity Investment to Alternext, Euronext’s self-regulated market. Primecity Investment is a perfect complement to the community of international focused companies across our markets. The listing on Europe’s leading stock exchange will raise the group’s visibility in the European capital markets and will offer access to a large and diverse pool of investors, enabling the company to accelerate the deployment of its strategy. We look forward to a long-lasting partnership with Primecity.” |
