The two Banks will place part of the company in the market after re-launching, this year, the activity of construction and sale of houses that remained after merging its equity division in Merlin Properties.
Metrovacesa will become the third real estate developer to entry on the stock exchange after the crisis and after Neinor Homes and Aedas Homes had entered this year.
As a step prior to its IPO, its two shareholder Banks have made two injections of land through two non-monetary capital increases valued at a total of €1,424 million. The first of them took place last June, when they transferred to the company 3.1 million square meters of land, estimated at €1,108 million, and the second, valued at 316 million, has just materialized, according to data from the company.
Also, prior to its return to the parquet, Metrovacesa will undertake a contrasplit of its capital. The transaction will involve the exchange of a new share for 45 currently in circulation.
Metrovacesa will be on the market as one of the companies with the largest stock exchange in Spain, given that it will add a portfolio valued at almost €3,000 million. Specifically, it has more than six million square meters of land, distributed all over the country, in which it can build around 40,000 houses.