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Cellnex has completed his capital increase 4,000 million euros, with a record demand that has exceeded more than 46,3 times the offer, thus improving the interest shown by the investors in all of its prior operations to increase capital during the past year, in a transaction that has attended practically all of its shareholders.
In particular, the sobredemanda has reached 185,000 million euros, according to the company Spanish telecommunications infrastructure, which provides that the 101,4 million new shares subscribed in the operation begin to be negotiated on the Continuous Market from next August 19.
the funds from the extension, which reach the 4,000 million euros, will be allocated to strengthen and increase the own resources of the company to continue to support its expansion in the framework of its strategy of growth in Europe.
The significant shareholders, Azure Vista, the pension fund of Canada, Lisson Grove and Permian, holders of 6,73%, 4,95%, 6,73% and 0.29%, , respectively, of the share capital of the company, as well as certain members of the board and of senior management, have gone to the capital increase and have exercised their subscription rights.
Exceptional host
Referring to the result of the enlargement, the ceo of Cellnex, TobÃas MartÃnez, has stressed the “exceptional acceptance of the extension by the investors, which have supported the expansion, strengthening its commitment to the growth project of the company”.
“which, in addition, the total demand has exceeded in more than 46,3 times the offer of new shares is a clear indicator of the interest and attractiveness of the project Cellnex continues to stir among investors, after having already executed two capital increases in 2019, for a total of 3,700 million euros,” says Martinez.
Also, at the time announced the enlargement on the 22nd of July, the president of Cellnex, Franco Bernabè, highlighted the support of the council “a strategy of sustained growth that, in something more than five years since the ipo, has led the company to spread its operations to eight countries in Europe, to multiply by four its size and occupy a clear leadership position on the european between the operators of telecommunication infrastructure”.
“Cellnex has announced from the exit to Stock market investments and investment commitments for a value of approximately 14.100 million euros and a portfolio of projects that allows us to think that this growth process will have continuity, while maintaining the attractiveness and interest of the investors and shareholders in a project that from may 2015, has reported a total return to the shareholder over 300%,” said Bernabè.
In 2019 Cellnex already increased by 3,700 million euros of their own resources through two capital increases, the first by 1,200 million euros carried out in march and the second by 2500 million carried out in October, with demand in both cases also exceeded the supply in the 16-and 38-fold, respectively, and attended by practically all the holders of rights of pre-emption.
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