Soltec gets the direct in the plan of ipo. The renewable has announced this Saturday in their first day of contact with institutional investors has already received “sufficient proposals are not binding share subscription” to cover your entire capital increase within the range of prices announced on Thursday.
Although this is non-binding offers, the first day of the roadshow provided by the company murciana has been sufficient to achieve this milestone. However, with the aim to achieve firm commitments and, predictably, a price positioning higher, the round of meetings with investors, will be extended until 27 October, as planned.
It is expected that on the same day already can set the final price for the debut of Soltec. Of time, the company and the banks underwriters have set a fork between 3.66 and 4,82 € per share. In this way, it premiered in the parquet floor with a market capitalization of between 370,5 and 440,4 million euros.
Debut to view
With this range, Soltec would begin his journey as a listed company with a valuation very close to that now mark listed as Hurry or Miquel y Costas. The debut is still planned for the 29th of October, as contained in the prospectus approved this week by the National Commission of the Market of Values (CNMV).
The flood of offers received on Friday, October 16th “demonstrates the the great interest of qualified investors in participating in the process of ipo of the company and it is an important support to their growth plans,” explains the future quoted in a note. In this sense, the placement will only have a small section reserved for selected retailers, among them, employees of the firm.
In the note issued by the renewable, is targeted towards the “confidence of the international investors in the Spanish energy sector”, which invites us to think that non-residents will have a privileged role in the operation.
To the front of the round of contacts that are just as quick fruit has been harvested are as banks coordinators Banco Santander and CaixaBank. In addition, JB Capital Markets and Berenberg act as co-underwriters in the operation. In addition, Rothschild & Co, has been appointed as financial advisor.
The brochure of the operation, which got the approval of the CNMV on Thursday, collected a capital increase of 150 million euros. In addition, in the event that is awarded this entire amount, the significant shareholder Corporate Group Sefrán SL will have the option of sell shares of your property for the equivalent of 15 million euros additional.