Real estate rental company IMMO GURU enters Bucharest Stock Exchange’s AeRO market
IMMO GURU, a company that rents its own real estate as short-term and long-term accommodation, was listed on the AeRO market of the Bucharest Stock Exchange on November 14, under the ticker IMMO.
IMMO GURU is the fifth company listed on the Romanian stock exchange from the beginning of the year and the fourth on the AeRO market, in a year marked by political turmoil caused by multiple elections.
“Every company that chooses to be listed on the stock exchange takes a stage that gives it the opportunity to make itself even more visible to its customers and partners. As of today, the AeRO market, the place we see fit for growing companies, has a new issuer,” said Radu Hanga, President of the Bucharest Stock Exchange.
IMMO GURU makes its debut following a technical listing with the support of retail trading broker TradeVille.
"The decision to list the shares on the Bucharest Stock Exchange reflects our long-term vision. Through this listing, we aim to increase the company's visibility and further contribute to the development of the capital market in Romania," said Ahmet Büyükhanli, General Manager and Chairman of the Board of Directors of IMMO GURU.
IMMO GURU was established in 2013 with the aim to accrue revenues from the rental of its own real estate, particularly from long-term contracts. The first step was to purchase 46 apartments in the Cosmopolis residential estate. Next, 32 more apartments in the same location followed.
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.
According to the Listing Memorandum, the company considers attracting institutional investors and transferring shares to the Regulated Market of the stock exchange in the medium and long term.
(Photo source: Bucharest Stock Exchange)
