LISBON: Euronext announced today that 12,55 million shares of Olimpo Real Estate Portugal, SIGI, S.A. (Ores Portugal) will be listed on Euronext Access Lisbon on June, 24th  further demonstrating  Euronext’s leading position as a benchmark market for European Real Estate companies.

Ores Portugal is the first SIGI (Sociedades de Investimento e Gestão Imobiliária) to be listed on Euronext Lisbon markets since the creation of this regime in September 2019. The SIGI framework replicates, to a great extent, the usual REIT (Real Estate Investment Trust) regimes effective across Europe. Ores will be listed with a reference price of EUR 4, a market capitalization of EUR 50,2 Million, and a free float of 83%.

Ores Portugal was the first SIGI to be created in Portugal, in December 2019, through a partnership between Bankinter (strategic manager of the vehicle) and Sonae Sierra (real estate portfolio manager of the company) aiming to create a real estate portfolio of assets under management of more than 200 million euros, placing it at the level of the largest Iberian players. Currently, 12% of Ores is owned by Bankinter and 5,14% by Sonae Sierra.

For Alberto Ramos, Country Manager of Bankinter Portugal, ”The listing of SIGI ORES Portugal demonstrates that Bankinter continues to provide innovative financial instruments and services in Portugal, expanding the range of investment options available to our Clients and the general public. This operation, held for the first time in Portugal, also reaffirms our commitment to the economic development of the country and represents an important contribution to boosting one of its most relevant sectors ”.

Alexandre Fernandes, Head of Asset Management Europe of Sonae Sierra, highlights that: “The creation of the first SIGI in Portugal and the first SIGI to enter the stock exchange are very important steps for Sonae Sierra, as part of our strategy of exposure to new investment vehicles. We are very pleased with this initiative and with our strategic partnership with Bankinter, that will no doubt revitalise Portugal’s capital market as well as the real estate investment market.”

Isabel Ucha, CEO of Euronext Lisbon, highlights: “I would like to congratulate ORES Portugal and Sonae Sierra, together with Bankinter, for listing the first real estate investment company under the new SIGI legal regime, on Euronext Access! This listing shows the continued commitment and trust of the partners on the Portuguese economy. We wish that this listing will enable the company to deploy its investment strategy in Portugal, innovating and expanding the business.”

Euronext is a reference market for European Real Estate companies with over 100 issuers in this sector, representing a market capitalisation of around €84 billion. Real Estate Investment Firms listed on Euronext are specialised in various areas, namely, Industrial and Offices (39%) and Retail (34%), as well as Real Estate and Development Holding Companies (18%).

Euronext offers companies access to an investor base of over 800 active institutional investors in this sector based in over 40 countries, primarily in the United Kingdom (29%), France (24%) and the United States (17%). These investors cover a wide array of investment profiles and invest across different growth phases of real estate companies and offer a unique liquidity pool. Real Estate companie listed on Euronext markets have raised an aggregated €10.7bn in follow ons and €27bn in bonds issuances since 2014.