January 8, 2018 / 5:09 PM / 14 days ago

Spanish real estate firm Metrovacesa announces intention to float

MADRID, Jan 8 (Reuters) - Spanish real estate company Metrovacesa on Monday announced its intention to float in a move it said was aimed at widening its shareholder base, making it easier to access capital markets to get financing for projects.

The residential developer will look to sell existing shares owned by Spanish banks Banco Santander and BBVA in the offering, it said in a statement.

The company has a net asset value of 2.7 billion euros ($3.2 billion), it said. ($1 = 0.8353 euros) (Reporting By Sonya Dowsett; Editing by Angus Berwick)

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