Thanks to enormous demand, Unifiedpost is on the stock exchange at 20 euros per share. At that price, the specialist in the digitization of invoices is worth 608 million euros.
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It looked as though Unifiedpost would go to the Brussels stock exchange at the top of the price range. The price range for the operation – which was only reserved for institutional investors – was between 18 and 20 euros. “Anyone who offers less than 20 euros does not risk having any share,” it sounded beforehand to a source.
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Large investors could still submit orders until 2 pm on Monday. US investors could still bid until 3 pm. The registrations were thus closed early. Previously, the intention was to keep the books open until the close of the European stock exchanges.
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However, demand for Unifiedpost shares was high. The registration for the private placement was oversubscribed ‘several times’, the company announced in a Monday evening press release. De Tijd learned from a good source that the demand at 1.5 billion euros was about six times greater than the supply. It was announced on Friday evening that the order book was completely filled in ten minutes.
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The size of the operation has been increased to 252 million euros. Both the increase option and the over-allotment option were exercised. Of the 252 million euros, just under 80 million euros, or almost a third of the amount, will go to the selling shareholders, according to the provisions of the prospectus.
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The company itself will receive 175 million euros. Net, after deduction of costs, it will receive a good 160 million.
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Unifiedpost will get its first listing on the Brussels stock exchange on Tuesday (at 9 am). Previously, the target was Thursday, but due to the great success of the operation, that was brought forward. The free float will be 41.4 percent.
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Unifiedpost operates a platform on which companies can communicate electronically and manage invoices and contracts digitally. The group now has more than 250 corporate customers.
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