Spanish property giant MERLIN Properties will admit its shares on Portugal's Euronext Lisbon stock market through a direct listing procedure starting Jan. 15.

MERLIN plans to convert the company into a SIGI, or Sociedades de Investimento e Gestão Imobiliária, Portugal's version of real estate investment trust, AURA Real Estate Experts reported, citing Economia.

The property company also plans to increase its exposure in the Portuguese market to 15% of its total investments from the current 10%, according to the report.