ANDREW L. TAN’s Emperador Properties is scheduled to enter Spain’s capital market on Dec. 19, the firm said on Tuesday, further boosting his business enterprise’s overseas presence.
“To be listed in the Spanish Stock Exchange is, for any company, an important milestone. We are looking forward to seeing how Emperador Properties evolves in this new stage,” Emperador Properties Chief Executive Officer Joan Cortés Vilardell said in a statement.
Emperador Properties is Mr. Tan’s personal real estate investment company and is expected to enter Spain’s Bolsas y Mercados Españole Growth Stock Exchange under the ticker symbol: YEPSA.
It currently has three wholly owned assets, which are the 57-storey Torre Emperador Castellana, the 35-storey Torre Caleido Shopping Center, and the 23-storey Torre Diagonal One in Barcelona.
Only Torre Emperador Castellana and Torre Diagonal One are listed as real estate investment trust (REIT) assets of Emperador Properties, which have a combined gross leasable area of 86,719 square meters.
The listing will provide the company with a bigger platform to achieve a more efficient financing mechanism that it sees to capture more real estate resources to finance its future growth, the company said.
The company said that it is aiming to provide a liquidity mechanism for shareholders and to facilitate a new system for objective valuation of shares that it sees to increase its visibility and transparency.
Emperador Properties is a REIT company dedicated to investment in real estate assets in Spain. It is focused on the acquisition and management of prime properties including offices, flexible spaces, and retail.
The company clarified that it is not in any way related or associated with Emperador, Inc. or any of the companies under Mr. Tan’s Alliance Global Group, Inc. — Justine Irish D. Tabile