- The Socimi (Spanish REIT) started trading today with a starting price of €15.40 per share and a valuation of €556 million.
Madrid, 23 September 2021 – SILICIUS Real Estate, SOCIMI (Spanish REIT) specialized in the management of long-term properties with stable income, has started trading today on the BME Growth trading segment of BME MTF Equity, with a price of €15.40 per share for a total valuation of €556 million.
The president of the company, Iñigo Mencos; its CEO, Juan Antonio Gutierrez; and its Managing Director, Juan Diaz de Bustamante, have made the traditional bell ringing at the Palacio de la Bolsa in Madrid.
For Iñigo Mencos, president of SILICIUS, “today is a historic day for the company”. “Going public is a dream come true and achieving one of the most important objectives we had set,” said the executive during his speech at the Palacio de la Bolsa. “Behind SILICIUS there is a management team and a group of professionals who have always achieved all the objectives we have set. In addition, we have a solid strategy and a business model that works,” he concluded.
For his part, the CEO of SILICIUS, Juan Antonio Gutierrez, explained during his speech that “our goal is to become a benchmark patrimonial company in the Real Estate market, recognized for the quality and profitability of its properties, long-term stability and professional wealth management”. In this line, he stressed that “our business project is more alive than ever and our business model pushes us to continue improving in the construction of an increasingly diversified, solid and quality portfolio of assets”.
The company has had as advisors Renta4 as Registered Advisor and Liquidity Provider, Deloitte Legal as Tax and Legal Advisor, the Financial Advisory area of Deloitte as Financial Advisor and PWC as Auditor.
The Managing Director of SILICIUS, Juan Diaz de Bustamante, stressed that “the IPO of SILICIUS is a very important milestone for the company. Listing on the Stock Exchange will allow us to increase our visibility to customers, shareholders and investors, and strengthen our position as reference players in the sector”. “Likewise, being listed on BME Growth offers us a series of advantages, especially in those related to the possibility of raising funds to undertake projects that require a particular financial effort,” concluded the Managing Director.
As of June 30, SILICIUS had exceeded its growth expectations, closing the first half of 2021 with a total of 45 assets in the portfolio and a gross valuation of €715 million. It is a portfolio of high-quality assets with high levels of diversification by type, income and location.
In this sense, SILICIUS has improved the diversification of its assets by locations and typologies. Within Spain, SILICIUS has assets in Bilbao, Cádiz, Cantabria, Castellón, Madrid, Málaga, Mallorca, Menorca, Murcia, Navarra, San Sebastián, Tarragona, Tenerife, Valencia, Vigo, Vitoria and Zamora. In addition, globally it has assets in Amsterdam, London and Luxembourg. Moreover, it has reached an occupancy rate above 92%, with 300 new tenants.
SILICIUS’ active management and marketing strategy is aimed at obtaining long-term leases with solvent tenants in order to guarantee high occupancy levels, generating stable and sustained cash flow. In this sense, the company has a management team with broad experience in the Spanish Real Estate sector, focused on identifying investment opportunities adapted to SILICIUS’ investment strategy.
This growth has been possible thanks to different monetary and non-monetary contributions from institutional shareholders, business groups and Family Offices that have joined the SILICIUS project and are now part of its shareholding.