Romania-based real estate company IMMO GURU has made its entry to the AeRO market of the Bucharest Stock Exchange today, the 14th of November, under the ticker symbol IMMO. This is the fifth company listed on the stock exchange from the beginning of the year and the fourth on the AeRO market.
AeRO is an equity market managed by the Bucharest Stock Exchange, dedicated to the financing, development and promotion of SMEs and start-ups that do not meet the criteria for admission on the main market, and also to any company that considers that this market is suitable for it.
IMMO GURU, which operates in the rental of own real estate as short-term and long-term accommodation, makes its debut on the AeRO market following a technical listing with the support of TradeVille, a leading Romanian retail brokerage house.
According to the Listing Memorandum, the IMMO GURU considers attracting funds through the capital market, in the medium term, by increasing its equity and issuing bonds. Medium and long-term, the company considers attracting institutional investors and transferring shares to the Regulated Market of the stock exchange.
“Through the listing, we aim to increase the company’s visibility and further contribute to the development of the capital market in Romania” Ahmet Büyükhanli, General Manager and Chairman of the Board of Directors of IMMO GURU stated.
According to the same information in the Memorandum, IMMO GURU was established in 2013 based on the founders’ vast experience in real estate development. From the very beginning, the main activity of the company consisted in accruing revenues from the rental of own real estate, particularly from long-term contracts.
The first step was to purchase 46 apartments in the Cosmopolis residential estate in the northern part of Bucharest and, after some time, it invested in other 32 apartments located in the same location. Ten years later, the company purchased other apartments in the same residential estate, as well as retail spaces located in various cities in the country. Most of the company turnover was achieved from rental revenues.
