The Stock Of Hyundai Properties To Be Floated Friday

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The stock of Hyundai Properties REIT will be registered for trade on the Bulgarian Stock Exchange on June 22, BSE's web site reported.

The emission's value stands at 650,000 leva allocated in the same number of shares with a face value of 1 lev. The bourse code assigned is HREIT.

The company's core activity is investing funds generated by issuing securities into real estate (securing of properties), construction and improvements on properties, as well as their equipment and furnishing with the aim of renting, leasing and or selling them.

Hyundai Properties is planning to include into its porfolio four operating Hyundai service centers (two in Sofia - in Darvenitsa area and Liulin area, one in Plovdiv and one in Burgas), and two which are still in the process of construction – in Blagoevgrad and Sandanski.

The fund will also purchase the main distribution building of Hyundai in Sofia – Hyundai Business Center, situated on Sofia's ring road.

The company is planning to invest primarily in properties which are part of the sales and service network of Hyundai on the territory of the country. Then the fund intends to let the properties on rent.

Industrial Commerce Ltd controls 70% of the fund's capital and the other 30% are owned by Sentilen Management AD.

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