Wednesday, February 11, 2015

Action Aena wins 15.71% in its stock market debut – The Economist

Action Aena wins 15.71% in its stock market debut – The Economist

The Spanish group AENA, the first manager airports in the world by number of passengers, 15.71% soared to 67.11 euros per share, in going public on Wednesday at the Madrid stock exchange.
 

The Spanish group AENA, the first manager airports in the world by number of passengers, 15.71% soared to 67.11 euros per share, in the beginning its price quotation Wednesday in the Madrid stock exchange.

Aena, which manages 46 airports and two heliports in Spain, also has 15 appearances abroad, for example in Mexico and Colombia.

His partial privatization, the largest IPO carried out in Europe since 2011 according to analysts, had been received since the announcement with strong demand, five times higher than the supply.

So, the price of introduction stood at the top of the predicted hairpin, 58 euros per share, which valued the entire group at 8,700 million euros (9,840 million).

The successful IPO of 44.55% of its capital-offer could be extended up to 49%, making the Spanish State would retain 51% – gives a new proof of the interest of investments by Spanish companies three sixes years of crisis

Madrid planned initially cede 21% of Aena to a hard core of shareholders convened by the March -a family of the greatest fortunes of Spain, the Spanish infrastructure group Ferrovial and bottom The Children’s Investment Fund (TCI ) and bring to market 28% extra.

However, Ferrovial, TCI and the March family proposed a price below 58 euros action and were excluded from the operation.

Nearly 196 million passengers passed through its Spanish airports in 2014.

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