Henry Gallego (President and CEO Ktesios), Isabel Ucha (CEO Euronext Lisboa) and part of the RKS-AM team.
Euronext, the main capital markets operator in Europe, announced today that the 530,000 Ktesios SOCIMI shares, promoted and managed by RKS Asset Management, have started trading on Euronext Lisboa.
The starting price of the Ktesios SOCIMI shares has been set at 12 euros and their capitalization at the time of the start of the listing amounts to 6.3 million euros.
Ktesios with a unique investment strategy, invests in properties outside the prime areas, but with a favorable microeconomy, for long-term rental. With a portfolio of 258 assets, and a market value of 12.4 million euros, it has a presence in towns in Castilla La Mancha, Andalusia and Murcia and the objective is to continue expanding in Spain and soon in Portugal.
With a strong social impact, Ktesios offers affordable rents, of about 350 euros per month, in decent, good quality and size homes. Currently the occupancy ratio is almost 70% giving access to almost 110 families.
Henry Gallego, president and CEO of Ktesios SOCIMI, stated: «We are delighted and proud to be part of today's session at Euronext Lisbon. Today is a very special day for the Ktesios family, for our team, shareholders, advisors and everyone who has been involved in this incredible project, in which Ktesios has become the first Spanish residential real estate investment REIT to be listed on this market. It is also the first SOCIMI with a social vocation and recurring returns to invest in non-prime areas, successfully combining the formula for social impact with profitability. »
Ktesios has the efficient management and proven experience in the real estate, capital markets and wealth management sectors of the RKS Asset Management team.
Due to the conditions imposed by the pandemic, the management of Ktesios, accompanied by a representation of the team, shareholders and collaborators, as well as the representatives of Euronext Lisbon, has virtually celebrated the traditional ringing of the bell, in which Henry Gallego has thanked “The trust placed by the shareholders and the effort made by all the company's employees”.