The act of bell-ringing in the Palace of the Stock Exchange of Madrid has been carried out by Laurence Rapp, CEO of Vukile, Alfonso Brunet, CEO of Castellana Properties and Lee Morze CEO of Dream. The company has debut with a rise of 5%, standing at €6.3 per share.
Laurence Rapp, CEO of Vukile explained that “Castellana Properties' IPO is a very important landmark for the internationalization of Vukile, a process guaranteed by the supervision of MAB in matter of responsibility and transparency". "The stability of the Spanish real estate market has awakened the interest of South African investors who find an opportunity with a great potential for growth and capable of generating positive profitability ratios in a strong currency such as the euro", has explained about the interest of the fund South African in the Spanish market of parks and shopping centers, where they already have 15 assets and expect to continue growing imminently.
For his part, for Alfonso Brunet, CEO of Castellana Properties "to be listed on MAB as socimi offers great advantages, in addition to the fiscal against other type of legal entities, socimi offers advantages in funds raising to undertake projects that require a particular financial effort. The negotiation in the MAB will help us to increase the visibility of the company before clients, partners and investors, strengthening our positioning and putting our high standards of quality, transparency and solvency in value".
The incorporation into Castellana Properties MAB has been done through a listing and its contracting will be made through the fixing pricing system. The company's trading code will be "YCPS". The aim of this IPO is to make it the benchmark socimi in the retail sector.