The share price of Ktesios, a leading SOCIMI investing in affordable rental residential assets in non-prime areas in Spain, has reached a record high of 14.40 euros.
An increase in liquidity during the month of December, coupled with investor interest in Ktesios' unique project, has boosted the share price on Euronext Lisbon from the previous 14 euros at which it was trading.
The company's housing portfolio, which already includes more than 520 assets in 21 municipalities and 9 provinces, benefits from a high sectoral and economic de-correlation due to its consideration as a basic need, as well as low competition, thus combining the trinomial of high profitability, low risk and social impact. Since its IPO in June 2021, the value of the shares has increased by 20%, while turnover has increased by 96%. The investment vehicle offers a gross return of more than 10%, well above comparable vehicles. In December, the company successfully completed a €3 million capital increase by cash contribution and issue of new shares. The capital increase, which is in addition to the €5 million capital increase carried out last June, will allow the SOCIMI to continue with its strategic plan.
Henry Gallego, CEO of Ktesios SOCIMI, said: "Ktesios SOCIMI's solid business strategy, specialising in a segment with great potential and low competition, is being reflected in the market value of the company's shares. Our expertise in this segment is key to identifying investment opportunities in assets that provide stable income and offer high appreciation potential. In fact, the current occupancy rate of our assets is around 97%, while their estimated value is 130% higher than their purchase value.
Founded in 2019, Ktesios is a purely residential SOCIMI specialising in the acquisition and management of assets in non-prime areas, offering affordable long-term rentals. In this way, Ktesios facilitates access to quality housing and contributes to boosting the economy of towns with great potential. The SOCIMI relies on efficient delegated management through RKS-AM to maximise the value of the assets, whose rental contracts are protected by default insurance.