The group will undertake new purchases of residential, tourist, commercial, and finance assets in Spain. In its stock exchange bulletin, Azora reports that it wants to significantly strengthen its balance sheet, increase the volume of assets managed and create new investment vehicles to achieve this goal.
In the next 5 years, tourism accommodations are “key areas” for the company, which will have an impact of around € 3.400 million in the Azora portfolio, mainly hotels and resorts in the Mediterranean area. These are followed by residential assets, which represent between €1,300 and €1,600 million of the portfolio, or commercial and debt assets, representing between €1,000 and €1,500 million, according to EjePrime.
The National Securities Market Commission (CNMV) has registered in its official records the prospectus corresponding to the Subscription Offer of up to 47,250,048 new shares of Azora. It is expected that the ordinary shares of the company will begin trading on the Madrid, Barcelona, Bilbao and Valencia Stock Exchanges on May 11, 2018, under the "AZR" ticker.