Portfolio Stock Exchange (Portfolio SE), the innovative stock exchange, has recently announced the addition of P3 Spain Logistic Parks Socimi to its market under the ticker PSLP. The starting price for trading the company's shares has been set at €10.50 per share, based on the last price traded on BME Growth prior to the transition to Portfolio SE. This price sets the total valuation of the company at more than 132 million euros.
In the incorporation process, P3 Spain Logistic Parks Socimi has been advised by the legal firm Clifford Chance. This team was led by partner Pablo Serrano de Haro, together with Javier Olábarri in his role as Counsel and associate Carlos Carrera, with the collaboration of Francisco Pizarro, Sofía Albiñana, Lucía Alegre, Enrique País and Nagore Ayerza.
P3 Spain Logistic Parks Socimi is a benchmark company in Spain in the logistics warehousing sector, with 25 parks distributed throughout the country. Its main areas of influence include the Mediterranean corridor, covering cities such as Barcelona, Valencia and Malaga, as well as the central corridor, which includes Zaragoza, Madrid and Castilla La Mancha.
The socimi is part of P3 Logistic Parks, a leading European logistics real estate company with more than 20 years of experience and almost 300 assets in 11 countries. P3 Logistic Parks is owned by the Singapore sovereign wealth fund, one of the largest funds in the world, with almost USD 800 billion under management.
In 2022, P3 Spain Logistic Parks Socimi closed the year with assets valued at 640 million euros. At its general shareholders' meeting, held on 25 July, it approved the exit of its shares from BME Growth and their subsequent incorporation into Portfolio Stock Exchange.
Santiago Navarro, CEO of Portfolio Stock Exchange, said: "For us it is a very important milestone to celebrate the second migration of a socimi from one of the traditional markets to Portfolio Stock Exchange. It is clear that the market sees in our proposal the solution to many structural problems that they have been suffering for many years. Furthermore, it is a privilege to be able to count on great clients who trust us to bring their issues to Portfolio, a few days ago Elix with a capitalisation of 420 million euros and now P3 with 132 million. The fact that they are the first shows their conviction that Portfolio is the solution they were looking for and it is certainly a great endorsement for future clients.
