Emperador Properties, a real estate investment company under the Socimi regime, will soon join the BME Growth stock market segment.
Dedicated to investing in real estate assets in Spain, Emperador Properties became a Socimi in September 2021 with its two wholly-owned office assets: Torre Emperador Castellana in Madrid and Torre Diagonal One in Barcelona. The two towers have a total gross leasable area of 86,719 square metres.
Emperador Properties will debut on the BME Growth, the SME stock exchange, with an initial value of 428,634,234 million euros and at a price of 4.20 euros per share, after having received the approval of the Market Coordination and Incorporations Committee. This body considers that the company meets the requirements for listing on BME Growth, where its trading code will be "YEPSA". The company's registered advisor is Renta 4 Corporate, while Renta 4 Banco will act as liquidity provider.
In this new phase, the governing body of Socimi Emperador Properties is now composed of five members: Katherine L. Tan; director; her son Kevin L. Tan, who becomes vice-chairman and who is also chief executive officer of Tan's international conglomerate, Alliance Global. The board is now also made up of the company's Spanish managers, in this case Joan Cortés Vilardell and Jorge Domecq Bohórquez, both CEOs of Emperador Properties. Andrew L. Tan will become Chairman of Emperador Properties.
The Market Coordination and Incorporations Committee considers that Emperador Properties meets the requirements for listing on BME Growth
With this IPO, in addition to complying with the requirements for Socimis, the company aims to achieve a financing mechanism that will increase its capacity to raise funds to finance its future growth. At the same time, it aims to provide a liquidity mechanism for shareholders, as well as to facilitate a new objective share valuation system, and to increase the Company's visibility and transparency vis-à-vis third parties.
In the words of Joan Cortés, CEO of Emperador Properties, "this IPO is a long-awaited moment for us. Behind it there are many hours of work, effort and enthusiasm from the whole team, as well as from the people who have accompanied us on this journey". Cortés adds, "being listed on the BME Growth is undoubtedly a great success that we are celebrating today, but it also encourages us to continue working in the same direction and with the same philosophy not only with our tenants, but also with our employees and partners".
Torre Emperador Castellana and Torre Diagonal One
Torre Emperador Castellana is not just another skyscraper. Designed by Pei Cobb Freed & Partners, one of the most prestigious and award-winning architectural firms in the world, it has a privileged location in the financial heart of Madrid, at number 259D on Paseo de la Castellana. It has a height of 235 metres spread over 57 floors. Thanks to its sustainable design, it has been rated "excellent" and "exceptional" by international certificates such as BREEAM® ES.
Torre Diagonal One, located in Barcelona's 22@ district, is also located in a privileged central area where innovation, creativity, design and technology go hand in hand. It is 110 metres high, which translates into 23 floors. Thanks to its focus on sustainability, it is energy A certified and BREEAM® ES certified.
In this process to join BME Growth, Emperador Properties has been advised by Renta 4 and has received legal advice from Uría Menéndez Abogados, as well as financial advice from KPMG and property appraisal advice from Savills and Gesvalt.
