OREANDA-NEWS. Fidere Patrimonio to start trading on MAB on 29 June

A REIT controlled by Blackstone Real State 

The Admissions Committee of the Mercado Alternativo Burs?til (MAB) has submitted to the Board of Directors a favourable report on FIDERE PATRIMONIO, stating that the company is eligible for admission to the SOCIMIs (REITs) segment of this market, following a review of all the information presented by the company.

The company, the 5th to be listed on the MAB’s REITs segment, is scheduled to start trading next Monday, 29 June, pending the approval by the Board of MAB.

FIDERE PATRIMONIO?s Informative Document is available on MAB’s website (www.bolsasymercados.es/mab), where all the information about the company and its activities can be found.

The company’s trading code will be YFID and trading will be through a price setting mechanism which will match buy and sell orders by means of two daily auction periods or “fixings”, at 12 hrs and at 16 hrs.

Renta 4 Corporate is acting as Registered Adviser and Renta 4 Sociedad de Valores as Liquidity Provider.

Circular 2/2013, which governs the regime applicable to SOCIMIs, requires independent expert appraisals. Based on the report for FIDERE PATRIMONIO, each of its shares was valued by its Board of Directors at €21.08, giving the company an approximately overall valuation of €212 million.

FIDERE PATRIMONIO, which began operations in July 2013, is controlled by Blackstone Real Estate and has made ??several acquisitions that have enabled it to create its portfolio of leased housing: 2,688 homes divided into 23 social housing developments leased under different categories of protection and financing structure.