eDreams Odigeo Prices IPO at $1.5 Billion Market Cap
eDreams Odigeo will price its initial public offering at 10.25 euros a share, giving the Spanish online travel agency a market capitalization of about 1.1 billion euros ($1.5 billion).
EDreamsOdigeo, owned by Permira Advisers LLP and Ardian, the private-equity firm formerly known as AXA Private Equity, will issue about 4.88 million new shares to raise gross proceeds of about 50 million euros, the Barcelona-based company said in a statement today. The total size of the offering before any over- allotment option is 376 million euros, it said.
Spanish companies are holding IPOs as investors return to the Iberian market on the promise of an economic recovery after the sovereign debt crisis. IPOs in Europe have raised about $17 billion this year, more than triple the amount in the same period in 2013, data compiled by Bloomberg show.
JPMorgan Chase & Co., Deutsche Bank AG and Jefferies Group LLC are among the banks managing the sale and the shares will start trading in Madrid on April 8.
Read full story at: http://skift.com/2014/04/03/edreams-odigeo-prices-ipo-at-1-5-billion-market-cap/