Talgo €1.27 billion IPO

Overview:

• Talgo—a Spanish rolling stock manufacturer—launched a €1.27 billion IPO on the Madrid Stock Exchange.
• The company raised €570 million though the IPO, placing 61 million shares which correspond to 45% of the share capital excluding the ‘greenshoe’ or over-allotment option.
• The launch share price of €9·25 valued the company at €1.27 billion.
• The global coordinators in the transaction were Banco Santander, JPMorgan, and Nomura. 
• At around 50 shareholders located in Spain and abroad selling part of their shares, the transaction had a high number of shareholders.

Adam Majeed - Regional editor