The capital increase operation of 14 million shares allows it to integrate the two owners of a residence in Malaga, thus integrating two companies owners of a residence in Malaga and another in Seville, HUBR Málaga SOCIMI, S.A. and HUBR Sevilla SOCIMI, S.A., respectively. The companies which own the two residences were integrated into SPS, despite remaining independent.
The Belgian company’s offer is conditioned to the acceptance of 95% of SPS’s shareholders, who can accept the takeover bid between the 22nd of July and the 5th of August.
The main reason that led Xior to make this demand is that the SPS’s portfolio «represents a unique opportunity within the current student residences’ market, with unmatched locations within the most relevant university cities in Spain».
SPS was established in 2016 seeking to build a quality student residences’ portfolio within the main university cities in Spain. The company has been listed at BME Growth since 2017, and was the first REIT specialised in student residences to be listed in Spain. It currently owns three assets: one residence in Madrid and the already mentioned residences in Malaga and Seville.
Xior offers up to 2.3427 euro per share, which represents a total share value of around 58.4 million euro. Xior assures it already has the support of more than 90% of the shareholders and members of the board.