CBo Territoria, a key property developer on Reunion Island, today celebrated its listing on NYSE Euronext in Paris.
Founded in 2004, CBo Territoria has acquired a unique range of comprehensive expertise in land development, construction and property management. Today it owns nearly 3200 hectares (11 sq miles) of land, of which 180 are zoned for building and/or are already being developed, on Reunion Island, a French overseas département in the Indian Ocean. The company is a leading player in the island’s urban planning and development, with projects addressing the need for housing in both the private and public sectors, as well as business premises, from offices and retail outlets to light industry. CBo Territoria has 50 employees with complementary expertise in development, contracting, property management and finance.
CBo Territoria transferred from NYSE Alternext to the regulated market of NYSE Euronext (ticker code: CBOT) through the admission to trading of the 32,010,325 shares making up its capital. Market capitalisation based on the opening price on the first day of trading was around €80 million.
“We welcome CBo Territoria to NYSE Euronext in Paris and are delighted to be a part of this new stage in its development,” said Marc Lefèvre, Head of European Coverage at NYSE Euronext. “Transferring to the regulated market of NYSE Euronext puts it in the running alongside its peers in the property business, enhances its credibility and thus consolidates its control of the value chain in the property sector.”
Eric Wuillai, Chairman and CEO of CBo Territoria, added: “Our listing on NYSE Euronext in Paris is a key step in our development, bringing much greater visibility and access to a new investor profile.”
About CBo Territoria
CBo Territoria owns around 3,200 hectares (11 square miles) of premium land and is a key player in property development on Reunion Island, a French overseas département with strong demographic growth. Committed to sustainable development, CBo Territoria holds leading positions in its three specialties:
- Property management and development projects;
- Property promotion and sale of lots for construction;
- Development and management of company-owned property assets.