Ewer Socimi, the trading name of Stable in Long Real Estate, has begun trading on the Portfolio Stock Exchange with an initial valuation of over €109 million and a reference price for its shares set at €51 per share.
The company enters the market with a portfolio comprising 16 property assets and a majority exposure to the hotel sector, which accounts for 73% of the portfolio’s total value. Founded in 2016, the company has since developed an investment strategy focused on income-generating property assets.
Ewer Socimi currently has more than 100 shareholders. Its listing on Portfolio SE will enable these investors to trade on a secondary market and have a reference price for their shares.
Shareholders have been convened at the end of the month to vote on the company’s adoption of the special Socimi tax regime, in accordance with Law 11/2009 of 26 October, which regulates Listed Public Limited Companies Investing in the Property Market.
During the process of listing on the stock exchange, Ewer Socimi has been advised by Crowe Spain in its capacity as Legal Trusted Partner. PwC Spain has been appointed as the company’s auditor, and Tecnitasa has acted as the valuer of the properties comprising the portfolio.
