This is a new stock to the top 10 in GREK
It may be the only spin-off from the 4 bank stock just got completely wipe out by the Greek government and EU creditors, and GREK lost about 30% of it’s value from that disaster since january when the leftists got elected.
I am guessing about 10-12Billion of market cap was instantly wiped out by the 4th recap of the banks.
Grivalia Properties REIC
trading at 7.7 eur/shr, at 770M market cap, it’s at PB=0.53 and pays a 4% div.
Grivalia Properties REIC, formerly Eurobank Properties Real Estate Investment Co, is a Greece-based investment property company with a portfolio in Greece and Southeastern Europe. Its business is leasing out investment property under operating leases and is classified as a real estate investment company. In January, 2014, the Company acquired 100% of the share capital of Cloud Hellas SA, and in March 2014, it acquired the first of the three warehouses in Aspropyrgos (Southwest Attica). In March, 2014, the State Court of Auditors unblocked the completion of the acquisition of the14 sale and lease back properties from HRADF, as well as acquired the second of the three warehouses in Aspropyrgos, Attica. In May 2014, it completed the acquisition of a portfolio of 14 assets from the Hellenic Republic Asset Development Fund (HRADF) and their respective lease to the Hellenic Republic for 20 years.