Thomás de Carranza steers Ktesios´ debut on Euronext Lisbon

Thomás de Carranza Abogados has advised Madrid-based Ktesios Real Estate SOCIMI S.A. on its IPO on Euronext Access Lisbon

Euronext, Europe’s leading capital markets operator, has announced that the 530,000 shares of Ktesios SOCIMI, promoted and managed by RKS Asset Management, have started trading on Euronext Lisbon. The starting price of the Ktesios SOCIMI shares was set at €12 and its capitalisation at the time of listing is €6.3 million.

Ktesios, with a unique investment strategy, invests in properties outside prime areas, but with favourable microeconomics, for long-term rental. With a portfolio of 258 assets, and a market value of 12.4 million euros, it has a presence in towns in Castilla La Mancha, Andalusia and Murcia and the objective is to continue expanding in Spain and soon in Portugal.

Ktesios was incorporated with an unequivocal aim: to comply with the requirements established in Law 11/2009, of 26 October, which regulates Listed Real Estate Investment Companies (Sociedades Anónimas Cotizadas de Inversión en el Mercado Inmobiliario). It is defined as a real estate investment company specialising in the acquisition and management of residential assets for leasing.

Its mission is to offer a unique and alternative project in the field of residential rental, in order to become the benchmark landlord of a permanent home, aimed at the working family. The company follows a strategy of investing in residential properties in peripheral areas of Madrid for rental to families. This generates recurring income which is the basis of the company’s value growth.

Ktesios’ portfolio is distributed across municipalities in central Spain (provinces of Toledo and Ciudad Real), southern Spain (province of Cadiz) and south-eastern Spain (Murcia). Its strategy is to continue investing in Spain, but also to start acquiring assets in Portugal in the future.

Thomas de Carranza Abogados acted as Legal advisor for the IPO process, in addition to accompanying the company in the management of the Secretariat of the Board of Directors. The IPO process was led by Real Estate/Commercial partner Íñigo Sánchez del Campo (pictured left), together with associate María García Aguado (pictured right).