Following the success of Euskaltel's IPO, which we mentioned in a previous post, several Basque companies have seen this form of financing as an opportunity for growth. Moreover, 12 of the 15 Basque companies listed on the stock exchange improved their results in 2015. In addition to Euskaltel, the last two Basque companies to be listed on the stock exchange were Masmovil Ibercom in 2012 and last March it did so NBI Bearings EuropeBoth have used the Mercado Alternativo Bursátil (MAB).
Aernnova prepares for IPO
AernovaThe Basque manufacturer of aeronautical structures plans to go public in the first half of 2016, with the aim of raising funds for its international expansion.
At the end of 2014, the chairman already anticipated the importance of the Basque group's industrial landing in the United States, the main client in the aeronautical sector, where Aernova is currently only present with an engineering centre in Michigan, and the possibility of going public to enter this market.
Aernnova's capital structure seems to facilitate its IPO, as the group led by Gandásegui controls 53% of the shares while the remaining 47% is in the hands of the Swiss private equity fund Springwater.
CIE automotive's Dominion also wants to go public
Cie automotive, dedicated to the manufacture of automotive components throughout the European market. plans to grow in the range of 5 to 10% over the next three years. and has long been exploring the opportunity to float a stake in its subsidiary Dominion, in which it now controls a stake in the company. 63% of the capital.
Cie automotive is now listed on the stock exchange and in 2014 increased its sales by 28%.
Dominion specialises in the provision of multiservices and technological solutions. in the telecommunications, industry and renewable energy markets
Euskaltel buys R cable after IPO.
Last July Euskatel announced its intention to buy R Cable and this week has informed the Spanish Securities and Exchange Commission (CNMV) of the closing of the purchase. Finally, the closing price of the transaction is €1,190M, which includes €300M of R Cable's debt, which will be refinanced by Euskaltel.
The former owners of R Cable were Rede Brigantium, which held 70% of R Cable's share capital, and Abanca Corporación Industrial y Empresarial (Abanca), which held the remaining 30%..
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