Metrovacesa's market capitalization stands at €2,502 million, compared to 2,730 and 2,957 million of the initial valuation.
The shares of Metrovacesa are expected to start trading on the Madrid, Barcelona, Bilbao and Valencia Stock Exchanges on February 6, under the "MVC" ticker. That same day, the President, Ignacio Moreno Martínez, and the CEO, Jorge Pérez de Leza, will perform the traditional bell ring at 12h00 at Palacio de la Bolsa de Madrid.
The operation consists of the sale offer by the majority shareholders - Grupo Banco Bilbao Vizcaya Argentaria and Grupo Banco Santander - of representative shares of up to 25.80% of the Company's capital (39,130,435 shares), which can be extended up to maximum of 28.40% (43,043,478 shares), in the event that the green shoe is exercised in its entirety (purchase option of the coordinators of the offer) of up to 10% on the initial offer.
Metrovacesa will become the third property developer to go public after the crisis, after Neinor Homes and Aedas Homes did it last year. Before the summer they had announced their intention to quote on Vía Célere and Testa Stock Exchange, to which Haya Real Estate will most likely follow.