Primafrio will take its cold storage logistics to the stock market

Primafrio will take its cold storage logistics to the stock market

Primafrio market capitalisation will be between 1.3 and 1.7 billion euro, with 25% of that capital available through the IPO, corresponding to 35 million shares priced between 9.30 euro and 12.10 euro each, which will allow the company to collect between 325.50 and 423.50 million euro.

The IPO is directed exclusively at qualified investors and it is expected to be launched on the 24th of June, under the ticker PRF at the Madrid, Barcelona, Valencia and Bilbao Stock exchanges.

Primafrio is headquartered in Murcia and has a further five logistic centres in Spain and Portugal. Thanks to several strategic partnerships with other logistic distributors, Primafrio increased its presence in strategically relevant locations and diversified its business activities, having access to 36 cross-docking platforms and 16 logistic centres in France and five logistic platforms in Germany.

Primafrio registered in 2020 revenues reaching 458 million euro, with a 10.8% CAGR since 2018 and a 17.8% EBIT, corresponding to 81 million euro.

Primafrio’s new board of directors is composed by nine members. The company’s president and managing director will be brothers Juan Ignacio and Esteban Conesa Alcaraz, respectively. It will also have two proprietary directors: Carmen Panadero Reyes and Gerard van Kesteren; and five independent directors: Enrique Pérez-Hernández y Ruiz-Falcó, Carmen Fernández Rozado, Isabel García Tejerina, Dirk Reich and Carmen del Río Novo. 

Primafrio’s founders, Juan Conesa and José Esteban Conesa, will maintain a majority share of the company of approximately 75%.

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