The CVC fund sets the price for landing on the stock exchange: it aims to raise 1.6 billion in the Netherlands

MILANO – Whether the price is right will be seen once the IPO is completed, in the meantime the fund Cvc Capital Partners sets the bar high. After having toyed with the listing project several times, the private equity company now aims to raise 1.6 billion euros in a public offering (IPO) to Amsterdam. Whereas his company and its investors will offer 114 million shares in a range of 13-15 euros each, this gives the company an implicit market value of between 13 and 15 billion euros. CVC will issue 18 million new shares, while existing investors will sell 96 million shares.

CVC has been working on an IPO since at least 2022, but previous attempts have been hampered by market volatility. According to what is reported by the Bloombergahead of the April 26 debut, demand for securities has so far exceeded the entire size of the operation, across the entire price range, within minutes of the opening of the so-called operation book.

Other shareholders such as Singapore’s sovereign wealth fund GIC, Kuwait Investment Authority, an asset fund managed by the Hong Kong Monetary Authority and some manager-shareholders will be among the people selling securities, thus moving on to cashing in.

The financial agency recalls that CVC is one of the best-known European companies in the segment, with assets under management of 186 billion. Its arrival on the stock exchange is part of a relaunch of Amsterdam as a financial center, after the boom in landings in 2021, and also overall in a season of recovery for this type of operation. As we talk about in this Affari&Finanza article, Europe is leading the way: since the beginning of the year, the number of companies that have decided to list on the stock exchanges of the old continent has grown by 24% and the capital raised has also been higher than that achieved on the large US stock exchanges: 7.4 billion dollars (+308% compared to the same period last year) against 7.2 billion overseas, according to data processed by Dealogic.