Unirea Shopping Center SA (SCDM; Bucharest Stock Exchange)

Romania-based company that operates two shopping centers in the Romanian cities of Bucharest and Brasov that can be bought for a 50% discount to company’s book value.

MCap $37M

PE 7

PBv 0.5

PS 2.9

ROE 6%

DY 0%

Yearly stock trading volume is less than 5% making it an overlooked stock. 

Unirea Shopping Center SA was established in 1975.

Unirea Shopping Center SA started trading on the Bucharest Stock Exchange in the year 2004.

Unirea Shopping Center SA is primarily engaged in the rental of commercial real estate properties. The Company operates two shopping centers: Unirea Shopping Center in the city of Bucharest, which consists of three buildings with a total rentable commercial area of 44,500 square meters, and Unirea Shopping Center, located in Brasov, with a total rentable commercial area of 16,900 square meters. Additionally, the Company is involved in the operation of parking lot in Bucharest, which has 939 parking spaces located on seven floors. 

Major shareholders of Unirea Shopping Center SA are The Nova Group Investments Romania SA with ~80% stake and SIF Muntenia with ~10%. Individuals and other investors hold less than 10% of the company’s stock.

Company’s website: http://www.unireashop.ro/

Long Unirea Shopping Center SA as of 2/08/2020

Purchase price: 61 RON