Tuesday, May 26, 2020
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Torre Rioja will make its Stock Market Debut with Assets Worth More than €600 Million

Torre Rioja, the owner of the headquarters of multinationals such as Axa, BNP and Ikea, has converted itself into Socimi with the obligation to go public in two years.

The Madrilenian real estate agency Torre Rioja, led by the businessman Ángel Soria (Madrid, 1954), has changed its tax regime to convert itself into a listed real estate investment company (Socimi). The company changed its corporate structure in March, according to reports by Cinco Días, but has not yet revealed on which index it will be listed. It may opt for the MAB, like most family-owned Socimis, or it could choose the main stock market, where companies such as Merlin, Colonial, Lar España and Árima are listed.

Torre Rioja currently encompasses the real estate activity of the Soria family, whose beginnings in the sector date back to 1953. They began in the residential sector and, later, shifted their focus on to the development and management of office buildings.

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