MADRID (Reuters) – The manufacturer of automotive parts Gestamp studies bring to bag at least 25 percent of their capital in 2017, a spokesman said Thursday of the company, confirming a Expansion information.
The spokesman did not give details about the operation because it is in a very early stage, but its president Francisco Banks told the financial daily that the plans are put between 25 and 37 per cent of the capital.
“It is working to bring to bag at least 25 per cent with the maximum agility, expected in 2017, but it has not been decided the exact date,” the spokesman said.
Although they have not disclosed details about valuations, the society japanese Mitsui (T:) paid 416 million euros, with a 12.5 per cent of Gestamp Automoción last month, which valued the entire company at 3.328 million euros.
Gestamp turnover 7.035 million euros last year, with a gross operating earnings (ebitda) of eur 760 million and a net profit of 161 million, according to its website.
it was Not clear why the company intends to go public, although the group has already been financed in the market with a bond issue of 400 million euros this year.
The appetite for going public in Europe has picked up recently, following the collapse of the capital markets mainly caused by the brexit, although some unfavourable conditions did that this week two european companies withdrew their plans for a quote.
The last attempt of an exit on the stock exchange in Spain by the subsidiary of Telefonica (MC:) Telxius, was frustrated a week earlier.
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