As part of its restructuring process, Siemens is preparing a stock market listing for its health division, which will be the biggest operation to take place in Germany (it will make its debut on the Frankfurt stock market) since the IPO of Deutsche Bank in 1996. The company is valued at around 40 billion euros.
The price for Metrovacesa’s return to the stock market will be in the range of €18,0/€19,5 per share, implying an initial market capitalisation of between €2.730 billion and €2.957 billion.
Renta 4 | Gestamp is a direct supplier for the main global light vehicle manufacturers. It makes the key components of any car: bodywork, chassis and mechanisms. It’s one of the few suppliers with global capacity and has a market share of around 15%.
In Spain, there has been a kind of urban legend that IPOs don’t work and investors end up losing money. This has possibly been the case in the past, but not now. And perhaps this is because most of the current IPOs are almost exclusively aimed at institutional investors, so operations need to be more fine-tuned.
Unicaja has announced it has received sufficient demand to cover its stock market listing, due on June 30, and expects to raise 875 million euros. The offers presented are not binding as no definite price has yet been obtained.
Donald Trump is making the mistake of investing in and arming the Saudi regime at the very moment when its foundations are eroding.
Spanish automotives parts’ manufacturer Gestamp will make its stock market listing on April 7. The preliminary price range is 5,60-6,70 euros, which values the company at 3.540 billion euros at the middle range. The operation will be positive for the Spanish bourse, where there are not a lot of industrial companies.
Prosegur plans to list up to 40% of its Prosegur Cash affiliate via a share sale exclusively for qualified investors. Prosegur Cash is the group’s main cash flow generator, contributing over 90% of results. It plans to earmark 50-60% of earnings for dividends.
The savings banks which were bailed out by the FROB continue to present problems for that institution and the government. The idea was that after they were restructured and their value had increased, they would find a buyer or incorporate a partner with a controlling stake or seek a stock market listing. So then they would give back at least a good part of the state aid received from the FROB. But these plans are turning out to be difficult to implement.
These are not good times for IPOs. Telefónica has been obliged to cancel the IPO of its infrastructure affiliate Telxius, with the agreement of the placement banks. With the stock market listing, Telefonica had hoped to reduce its hefty debt pile of over 52 billion euros. But market pressure has forced it to backtrack. Telefónica’s shares opened down 4% on Friday. So far this year, the shares have still lost over 8%.