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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Euronext N.V.    ENX   NL0006294274

EURONEXT N.V.

(ENX)
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Euronext N : MERLIN Properties lists on Euronext Lisbon

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01/14/2020 | 02:23pm EST
  • The largest Spanish SOCIMI [REIT] will start trading on Euronext Lisbon regulated market on January 15
  • It is the first dual listing of a Spanish company in this sector
  • This listing further endorses Euronext's positioning as the leading European venue for real estate companies
  • Today's listing adds to the 105 real estate firms already trading on Euronext markets

Madrid, Lisbon, Paris - 14 January 2020 - Euronext, the leading pan-European market infrastructure, today announced that 470 million shares of MERLIN Properties will be listed on the Euronext Lisbon regulated market from 15 January, further demonstrating Euronext's leading position as a benchmark market for European Real Estate companies.

MERLIN Properties is one of the leading Real Estate companies listed on the Spanish Stock Exchange (market cap of EUR 5,8 Bn as of 13 January), focused on the acquisition and management of commercial assets in the Iberian Peninsula.

MERLIN Properties is the first Spanish SOCIMI to be listed on Euronext's regulated market. With tomorrow's listing, there will be eight Spanish SOCIMIs listed on Euronext, given that seven currently do so on the alternative Euronext Access (one of the alternative trading platforms (MTF) operated by Euronext).

The listing of MERLIN Properties' shares on the pan-European Euronext market will increase the visibility of this SOCIMI to a broader international investment community, including enhanced access to Portuguese investors.

Ismael Clemente, Vice-Chairman and CEO of MERLIN Properties has commented: 'The prospects of economic growth, the excellent fundamentals of the real estate sector and the current context of political stability just confirm the appeal of Portugal for us. As we intend to continue increasing our exposure in the country, it is essential for MERLIN Properties to be listed here.'

Benchmark market for the real estate sector

Euronext is a reference market for European Real Estate companies with over 100 issuers in this sector, representing a market capitalisation of around €122 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 €10.3bn in follow ons and €27bn in bonds issuances since 2014.

MERLIN Properties strengthens the list of leading Real Estate companies trading on Euronext, which include major players of the likes of Unibail Rodamco Westfield, Klepierre, Gecina, WDP, Nexity and Aedifica among others.

The dual listing of MERLIN Properties, the first carried out by a Spanish SOCIMI, is the second led by a company domiciled in Spain, following the successful listing of Lleida.net in December 2018.

Disclaimer

Euronext NV published this content on 14 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 January 2020 19:22:06 UTC

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Financials (EUR)
Sales 2020 803 M
EBIT 2020 399 M
Net income 2020 273 M
Debt 2020 542 M
Yield 2020 2,53%
P/E ratio 2020 20,3x
P/E ratio 2021 17,8x
EV / Sales2020 7,41x
EV / Sales2021 7,01x
Capitalization 5 402 M
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 83,39  €
Last Close Price 79,10  €
Spread / Highest target 23,9%
Spread / Average Target 5,42%
Spread / Lowest Target -14,0%
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Stéphane Boujnah Chairman-Managing Board & Group CEO
Dick M. Sluimers Chairman-Supervisory Board
Giorgio Modica Chief Financial Officer
Alain Courbebaisse Chief Information & Technology Officer
Manuel Ferreira da Silva Member-Supervisory Board
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