Aliansce Sonae put a mall in Rio up for sale and expects a 53% premium
- The company has relevant exposure to Rio de Janeiro, which accounts for 24% of its portfolio of 27 malls.
The investment director at Aliansce Sonae, Mauro Junqueira, told the column that the purpose of the sale is to balance the geographic distribution of the portfolio, which also has projects in 12 states, including São Paulo, Minas Gerais, Bahia, and Pará. The sale will be used for projects to expand malls already in operation and potential acquisitions.
The sale will be offered through a secondary public offering of shares in the Via Parque Shopping real estate fund. Aliansce Sonae will be the only seller. 1.1 million shares will be offered for R$ 161. The value is noteworthy because it corresponds to a requested premium of 53% about the share's closing in the last trading session at R$105.
The last time the fund exceeded R$ 160 was in September of last year. According to Junqueira, the market value does not correspond to the fair value of the project since the shares have low liquidity on the stock exchange.
