- Institutional investors have until 27 March 2017 to request additional shares
- The company is expected to make its market debut on Wednesday, 29 March 2017
- The support from institutional investors confirms the credibility of the Company’s differentiated business model
Madrid, 17 March 2017.- Neinor Homes is pleased to announce that the order book for its IPO is oversubscribed (including the green shoe option) on the first day of the book building process.
This oversubscription of Neinor Homes’ securities exemplifies the strong interest of qualified investors in participating in the IPO and denotes the important support for the Company’s growth plans, its emphasis on transparency and good corporate governance, and its position in the resurgent Spanish real estate sector.
The planned IPO includes an offer for subscription of new shares of around €100m by Neinor Homes – a primary offer – and a public offer for the sale of existing securities by current shareholders – a secondary offering – with a maximum free float of 60% of the Company’s share capital.
The order book, which lists the requests for shares made by institutional investors, demonstrates demand that has exceeded the amount of shares initially offered (accounting for 20% of the Offer). Interest has been received from international institutional investors, mainly from France, the United Kingdom, the United States and Spain.
Institutional investors have until 27 March 2017 to request additional Neinor Homes’ shares. According to the schedule, Neinor Homes expects to make its market debut on Wednesday, 29 March 2017.
About Neinor Homes:
Neinor Homes is the leading residential developer in Spain with the largest amount of land under management classified for urban development in our country, with an investment of over €1.1bn. It has an approximate area of 1,250 square kilometers, divided between Madrid, Catalonia, the Basque Country, the Balearic Islands and Andalusia. The company has a clear orientation to become the professional point of reference for the property development industry and a strong vocation to become a benchmark for quality, sustainability and customer service.
For more information:
Neinor Homes. Director of Communications and Marketing
Ana Ramos / [email protected] / +34 91 287 51 30 / +34 618 524 603
KREAB Madrid
Sandra Venero / [email protected] / +34 917 027 170
José Luis González / [email protected] / +34 917 027 170
KREAB London
Christina Clark / [email protected] / +44 20 7074 1864
Daniel Holgersson / [email protected] / +44 20 7074 1840