(updated with more details of the operation)
Madrid, Jan 23 (EFE) .- The Spanish government today approved the IPO of 28% of capital from the public airport operator Aena by offering public (IPO) announced Executive Vice President, Soraya Sáenz de Santamaría.
The operation was ready to be done last fall, but the government decided to postpone the last minute to hold a competition for selecting the auditor to continue the process.
It will privatize 49% stake in Aena, 28% by placing shares on the market today approved and 21% by the entry of three partners reference have already been selected. Ferrovial, Corporación Financiera Alba (investor instrument Banca March) and the British fund The Children’s Investment Fund (TCI)
According to the prospectus of the operation, which has now registered the Comisión Nacional del Mercado de Valores (CNMV), the indicative price range is between 43 and 55 euros per share, which will mean revenue for the company between 1,806 and 2,310 million if the underwriters exercise the right to purchase, common in these operations.
With these prices, which exceed those established last fall at the first attempt to lift bag Aena (42.5 to 53.5 euros), the value of one hundred hundred manager amounts to a minimum of 6,450 million and a maximum of 8,250 million.
The IPO is aimed primarily at institutional investors, who have booked 90% of the shares to be launched, but there will be a retail tranche and one for employees who represent, respectively, 9% and 1% of the placement.
During the next two weeks Aena will tour major European and US financial markets to explain the offer to investors, and the shares will begin trading on February 11.
The Minister of Development, Ana Pastor, remarked that Aena will remain a public company and indicated that private capital will ” strengthen management “of the company and sustainability of an airport model that passes through the existence of a single manager for the entire airport network.
Aena manages 46 airports in Spain and 15 in the world and is the world’s largest airport operator. EFE
eco / pdp / mlg
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