Stock Market Flotation

1991 – 1999

“La Caixa” becomes a shareholder and stock market flotation

In 1991 “La Caixa” took a majority shareholding in Inmobiliaria Colonial, which until then had been owned by Banco Central Hispanoamericano. “La Caixa” brought with it property sites and buildings of more than 500,000 m2.   Inmobiliaria Colonial appointed a new management team and embarked on a process to restructure and streamline its portfolio, and focused on the rental of exclusive office space in the central business districts of Madrid and Barcelona. At the same time the company started up a select and profitable land and residential development business.   In 1999 it was floated on the stock exchange through a very successful offering, with strong small investor interest, and a free floatof around 55%. The restructuring process initiated in previous years gathered pace following the stock market flotation.