This will be the second IPO in the Spanish market in 2024. Cox has just published the prospectus for its IPO and will debut on the Continuous Market on November 14. The price range for the Public Subscription Offering (PSO) will be between €10.23 and €11.38 per share. The final price will be set and announced on November 12.
With this range, the company’s valuation would be between €837 million and €931 million. The company will only carry out the operation through a PSO, in which it expects to raise a total of €200 million, assuming the average price of the provided range. Cox is expected to have revenues of €306.4 million between January and June, representing a year-on-year improvement of 56%. EBITDA would reach €56.5 million, more than 300% higher than the gross profit of €12.8 million achieved in the same period last year. The company has a cash position of €31.8 million.
The company has already specified in the prospectus that there will be no returns to its shareholders in the next three years and that it has not established a specific dividend policy.
