IPOs were once again reactivated during a year that promised to be more successful. After the suspension of Europastry, the Spanish market will welcome two companies next week: Inmocemento (FCC) and Cox will ring on November 12 and 14 respectivelyjoining the continuous market.
FCC split its real estate (FCyC) and cement (Cementos Portland Valderrivas-CPV) activities to merge them into Inmocemento. The first date to remember will be next Tuesday. On that day, Inmocemento will debut on the stock market at a price of 4.25 euros per share. According to the CNMV, the value of this new company would be estimated at 1.925 million euros.
However, this IPO is not a typical IPO, as it is a registration FCC activities in which Last Thursday, each investor in this company would receive one share of Inmocemento for each share they owned.. The subsequent issue of new shares will be carried out through a capital increase for a total amount of 1,597 million euros.
Two days later, on November 14, the energy company Cox will debut on the Spanish market. The company chaired by Enrique Riquelme will take the plunge towards the continuous market a price between 10.23 and 11.38 euros per share in a Public Subscription Operation (OPS) in which the company hopes to raise between 190 and 210 million euros, which will be used for the growth of the company.
The price range provided would leave the value of the company between 837 and 931 million euros. With this valuation, in addition, Cox would enter the stock market at a discount of up to 27% compared to its comparables. On November 12, the company will announce the fixing of shares.
