The company will put between 3.016 and 3.159 million new shares through an initial public offering (IPO) to obtain gross revenues of around €100 million.
Moreover, the current owners – funds managed by the private equity firm Castlelake – will sell up to 17.9 million of existing shares through a public sale offering (pso), representing 40% of the company’s share capital.
The shareholders will offer to the global coordinators of the operation the option to buy an additional 10% (“greenshoe”).
The offer will be directed exclusively at qualified institutional investors, both in Spain and other countries.
Aedas Homes expects to use the funds raised by the IPO to invest in future growth opportunities and to partially finance the expansion of the company and the purchases included in its house building plan for the period 2017-2023.