New Ibex 35 company replaces Banco Popular: El Colonial

Amadeus IT en IBEX
Amadeus managed to catch a break in the activities of the beginning of the month
July 7, 2017
Mexican Peso vs US Dollar
Forex: The Mexican peso quote cuts earnings
July 12, 2017

New Ibex 35 company replaces Banco Popular: El Colonial

Madrid, Spain Stock Exchange

Madrid, Spain Stock Exchange

El Colonial” joins Ibex 35 and occupies the place left behind by Banco Popular, after Santander Bank’s acquisition, and it’ll be done before the Board with shareholders convened by the end of June, so that the conversion in SOCIMI is approved.

Said entity enters the index with a capitalization close to 3,000 million euros, 2.998 million during this week’s session. Between the main shareholders, Qatar has in its assets 11.7% of the company, Finaccess, the Mexican group, has 12.7%, whereas the Colombian company Santo Domingo has a 6.1%, and the Puig family a modest 5.1%.

The real estate company has a portfolio of buildings with offices for rental in cities such as Madrid, Barcelona and Paris, these add around 866,000 square meters of surface, according to the documents and it’s the second company of patrimony that quotes in Ibex 35 along the new Merlin, result of the merge with Metrovacesa.

El Colonial: the new IBEX35 company

El Colonial: the new IBEX35 company

The assets portfolio has a gross annual value (GAV) of 8,609 million euros and it’s centered in the segment of offices that is a 94% in its totality, these are located in 75% in the Central Business District (CBD) of Madrid, Barcelona and Paris. Colonial also has a BBB rating with a stable outlook.

In general terms, the opinion of experts is that the incorporation of the real estate from Colonial to Ibex 35 should support its quote in short term by the movement of indexing. That’s why there’s the rising tendency since the Technical Advisory Committee of Ibex 35 made the decision public.

Some market data that we must consider

According to the market data, the Colonial moves to over 1.4 million shares on a daily basis and this week it’s already moved a little less than half a million titles. Its beta on the index is of 0.82 while volatility is 16% on a six-month period and 19.5 per cent a year, compared to 112.2% and 15% of Ibex 35, respectively.

In the last few sessions, on June 8th, the entrance in the selective market of Spain was known, the Colonial has revalued in 1.87%, and its appreciation in the last month is of 5.96%. After three months, it shows a 9.3% gain that is of 16% of the year so far and 16% in the last twelve months.

Last year’s minimum was of 6.034 euros and the maximum was 7,64 euros. Thus, the Colonial -from a technical point of view, has a first holder of 7,455 euros and a second holder of 7.27 euros, while it sets resistance at 7.79 euros.

At the moment, the shares of the real estate company score something over a point in percentage and that sets the price in the selective at the 7.724 euros, not very far from the resistance and aiming at the year’s maximum.

Leave a Reply

Your email address will not be published. Required fields are marked *