On June 1st, 2021, Euronext (the main operator of capital markets in Europe). announced the IPO of 530,000 shares of Ktesios SOCIMI with an IPO price set at €12 and a capitalization of €6.3M.
Little more than 365 days separate us from that day and the results are more than positive, an increase of 12,5% of the stock price and a capitalization of €11.7M, in addition to the growth of its real estate portfolio.
During this year, work has been done on the acquisition of assets located in 10 villages in 6 different Spanish provinces, which represents a total of 520 assets (a growth of 102% in the last 12 months), with an acquisition price of €13,1M and an estimated portfolio value of €30.3M.
According to its strategic plan, in the next 5 years, the goal of Ktesios REIT is to exceed the acquisition of 4,500 homes with an investment of €250M and a minimum dividend target of 6.5%.
As Henry Gallego, president and CEO of Ktesios REIT said: “A year ago we undertook this project and we are very proud of the results obtained. Innovative and committed initiatives like this one are needed, in which good returns with social impact can be obtained. For this reason, we will remain faithful to our investment strategy, in non-prime locations with great development and growth potential, offering affordable housing”.
Ktesios has the efficient management and proven experience in real estate, capital markets and wealth management of the RKS-AM team.