Spain's Primafrio targets $2 billion valuation with its IPO [Reuters]
BANKINTER SA S/ADR (BKNIY)
NASDAQ:AMEX Investor Relations:
webcorporativa.bankinter.com/www2/corporativa/en/inf_financiera_cnmv/informacion_financiera/resultados/2011
Company Research
Source: Reuters
By Reuters Staff 2 Min Read MADRID (Reuters) -Primafrio is targeting a valuation of up to 1.7 billion euros ($2 billion) following a planned listing of a 25% stake in the Spanish logistics operator, it said on Thursday, in what would be the third market listing in Spain this year. Family-owned Primafrio, which specialises in refrigerated products, plans to sell its shares at between 9.30 euros and 12.10 euros, raising as much 423.5 million euros through a placement aimed exclusively at institutional investors. Global stock markets have benefited this year from ultra-low interest rates and government economic stimulus measures aimed at alleviating the effects of the coronavirus crisis, driving record numbers of market debuts in several countries. Primafrio’s flotation comes after Bankinter spun off its insurance business Linea Directa and green energy firm Econener listed its shares. The announced price range would give the company a valuation of between 1.302 billion euros and 1.69 b
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