Barcelona, April 7 (EFE) .- Abertis Infraestructuras today announced its intention to place on the stock exchange 55% of its subsidiary terrestrial telecommunications, Cellnex Telecom, which owns and operates 15,170 telecom towers in Spain and Italy, operation that aims to accelerate the growth of the company.
In a statement today to the Comisión Nacional del Mercado de Valores (CNMV ), Abertis ensures that the company will apply for admission to trading of the shares on the stock markets of Barcelona, Bilbao, Madrid and Valencia, and in the electronic trading system or continuous market for Spanish securities markets.
The Public Offering (IPO) of ordinary shares in the subsidiary Cellnex consist entirely in a secondary offering of existing shares owned by Abertis issued to institutional investors inside and outside of Spain.
Abertis placed with institutional investors 55% stake in its telecommunications subsidiary, Cellnex, so it will reduce its stake to 45%.
The selling shareholder also made available shares representing up to 10% the size of the offering to its over-allotment.
Cellnex Telecom is the new name that has operated since last April 1 Abertis Telecom subsidiary Terrestrial, change that arose as a precursor to its IPO, operating under the strategic plan for the period 2015-2017 Abertis.
The vice president and CEO of Abertis Infraestructuras, Francisco Reynes, said today that the group will maintain its participation as a shareholder reference after the IPO “because we believe in the long-term success of the company and we want our shareholders continue to share the benefits of growth.”
Reynés has also emphasized that the official announcement today IPO of Cellnex Telecom is “one of the key milestones in its 2015-2017 Strategic Plan” and Cellnex “is perfectly suited to be an independent listed company, and the IPO will help accelerate the continued growth of the Company”.
According to the notice sent to securities regulator Abertis and Cellnex sign an agreement not to sell 180 days after the IPO, during which period shall not issue or dispose of shares of the Company, or perform any transaction with the same economic effect, without the consent of the Joint Global Coordinators
Morgan Stanley (Xetra: 885836 – news)., Goldman Sachs (NYSE: GS-PB – news) and CaixaBank (Other OTC: CAIXY – news) are the joint global coordinators banks of supply, while Santander, BNP Paribas (London: 0HB5.L – News), Citigroup Global Markets Limited and Société Générale are the joint coordinators of the issue (or Joint Bookrunners in english). BBVA and BTG Pactual US Capital are the co-directors of banks (Co-Lead Managers).
Last March, Cellnex Telecom closed the purchase of 7,377 cell towers Italian mobile operator Wind, what which will provide additional estimated 60 million to EBITDA (gross operating profit).
With the purchase, the new Cellnex becomes the largest European carrier neutral network infrastructure for mobile and dissemination . audiovisual
Cellnex, headquartered in Barcelona, has a portfolio of 15,170 towers, 7,472 in Spain and 7,698 in Italy and classifies its activities into three groups: rental of telecommunication towers, broadcast infrastructures and network services and others.
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