Italy's main stock market Borsa Italiana has updated its rules of admission for real estate companies and SIIQs, the Italian equivalent of real estate investment vehicles (REITs).
Italy's main stock market Borsa Italiana has updated its rules of admission for real estate companies and SIIQs, the Italian equivalent of real estate investment vehicles (REITs).
The stock exchange decided during its latest shareholders' meeting to raise the minimum capitalisation required for the admission of real estate companies to the regulated stock markets MTA and Expandi to EUR 200 mln.
In addition, Borsa Italiana said SIIQs will be listed on the Expandi market under the new category 'Real Estate Investment Companies (REIC)'. The changes still have to be approved by the Italian securities market regulator Consob.
The legislation for SIIQs was rubber-stamped by Italy's deputy Economic minister Vincenzo Visco last week and it will come into effective from July 2007.
