St Petersburg Property Company AB

Welcome to St Petersburg Property Company!

St Petersburg Property Company AB, or SPPC for short, is a Swedish property company formed in 2013. It holds properties in Saint Petersburg, Russia and is headquartered in Stockholm, Sweden. The company is traded on the unofficial Swedish trade platform Alternativa listan.

Latest news:

Vision
SPPC shall be perceived as an attractive property company in St Petersburg. The brand shall represent high quality, good service and long-term thinking in the management of the company’s commercial properties in attractive business locations.

Business Concept
SPPC shall own, manage and divest properties in St Petersburg, Russia as well as financial instruments and business related thereto. SPPC shall offer its clients high-quality office and retailing premises. SPPC intends to apply an opportunistic exit strategy to the benefit of its shareholders.

Operating Objectives
SPPC intends to gradually increase profit from current operations. Facility management will be organised either through external suppliers and or internal services depending on costs.

Financial objectives
SPPC shall have good dividend growth over time and the dividend shall account for more than half the net profit from current operations. The equity ratio shall be at least 50 percent over time. If the Properties can be mortgaged to a reputable bank, a substantial one-off dividend or stock repurchase may be possible.

Facility Management
The properties are managed by fully-owned Russian subsidiary SPPC Management LLC, including both technical and operational management, rent management and financial services.

Accounting and reporting
SPPC’s financial year is equal to the calendar year. The starting year of 2013 was extended to 31 December 2014.

SPPC Number of Shares
The share capital in SPPC currently consists of 6,197,500 shares of one class. The shares in SPPC are dematerialised and affiliated with Euroclear Sweden.

Corporate Governance
SPPC is a Swedish public limited liability company with its registered office in Stockholm. The company is governed by its Articles of Association, the Swedish Companies Act, as well as other applicable laws and rules.

Registered address
The registered address is St. Petersburg Property Company AB, Byängsgränd 14, 120 40 Årsta, Sweden.

Listing
SPPC will initially have a limited number of shareholders and will not qualify for a listing with any regulated securities exchange. SPPC has an unofficial listing of its shares with Pepins Group AB (publ).