(Finance) – Borsa Italiana has ordered theadmission to listing on the Euronext Milan market of the ordinary shares of Eurocommercial Propertiesreal estate investment company already listed on Euronext Amsterdam (which will remain the main exchange) and Euronext Brussels. It is one of the shopping center specialists in Europe. Founded in 1991, Eurocommercial currently owns and operates 24 shopping centers in Belgium, France, Italy and Sweden with total assets of approximately €3.8 billion.
Presenting the results for the first quarter of 2023 on May 5, the company had explained that it was in the stages of the admission process, with the start of negotiations on Piazza Affari in the second half of May.
L’Italy is a very important and strategic country for Eurocommercial, as 43% of the value of its real estate portfolio is invested in Italy. The Italian portfolio includes three flagship shopping centers and five dominant suburban shopping centres, all located in Northern Italy.
Eurocommercial hopes that the listing in Milan “it will contribute to visibility, reputation and awareness of Eurocommercial’s brand in the Italian markets and to Eurocommercial’s Italian business”. The listing “could also help the company to attract more Italian investorswho can then invest directly in a diversified real estate portfolio including leading Italian shopping centers via their home market, giving the company the opportunity to further expand and diversify its shareholder base.”
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