CVC aims at up to $16bn valuation in Amsterdam IPO

Apr 26, 2024 | News

CVC Capital Partners is targeting a market capitalisation as high as 15 billion euros ($16 billion) in its initial public offering (IPO), the private equity group said on Monday.
The company is offering shares at a price range of 13 to 15 euros, with trading on Euronext Amsterdam expected to start on April 26.
Banks acting on the deal said on Monday morning that books for the IPO had been oversubscribed multiple times by investors, suggesting strong demand.
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Assuming shares are priced at the midpoint, CVC and its shareholders will raise up to 1.8 billion euros in proceeds through the sale of new and existing stock, according to a deal term sheet seen by Reuters.

CVC has been looking to launch an IPO for some time but aborted a previous attempt in November due to unfavourable market conditions.

Since then, Europe has seen a string of companies go public, taking advantage of higher stock prices and improving investor sentiment.

Spanish beauty group Puig is currently attempting an IPO in its home market.

New listing performance, however, has been mixed. Last month Galderma saw its shares soar on its market debut, while CVC-backed perfume retailer Douglas has traded below its issue price.

Source:Reuters

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