With this money, the developer wants to advance in its strategic plan and foresees to use the funds to anticipate the program of purchase of land that has been marked for the next months. So much so that could even close in the final stretch of the year part of the operations planned for 2018. At the moment, and as confessed by Neinor Homes herself, is currently negotiating transactions valued at 100 million euros, which means that could use the line of financing of JP Morgan immediately.
The company, led by Juan Velayos and controlled by the Lone Star fund, plans to repay the loan with the cash generated by its ordinary business and maintains that it could evaluate its objectives of its business plan until 2020 in the event that it depletes all funds the ones you have before the end of the exercise. Its strategic plan, which will reach its full potential in 2020, includes delivering between 3,500 and 4,000 homes per year and purchasing land valued at around 380 million euros in coming years.
To date, Neinor Homes’ portfolio includes some 1,250 square kilometers of land, valued at 1,200 million euros, and 64 residential developments in production that include almost 4,800 homes.
On March 29, Neinor debuted on the stock exchange, signing the first debut of a domestic stockbroker in a decade. It was released at a price of 16.46 euros per share, which gave it a market value of 1.3 billion euros. Currently, five months after its start, each of the promoter’s shares are priced at 19.5 euros, which puts its capitalization at 1,540 million euros. Thus, it has revalued 18.5%.
Source: Idealista
