Global Dominion Access Bolsa de Madrid IPO

Overview:

• Global Dominion Access—the solutions and services subsidiary of automobile components manufacturer CIE Automotive Group—launched a $170 million IPO of ordinary shares on the Barcelona, Bilbao, Madrid and Valencia Stock Exchanges through the Automated Quotation System (Sistema de Interconexión Bursátil).
• The deal comprised a primary offering of 54.74 million new shares by Dominion to qualified investors, as well as an over-allotment option (greenshoe) of up to 8.21 million shares.
• The offering price was fixed at €2.74 per share, which would represent an initial market capitalisation of €450 million.
• This was the first Spanish IPO to take place in 2016 in what is the worst EMEA market for IPOs since 2012.
• Fairly unique for the Spanish market, the deal involved an all primary offering—issue of new shares by a company which has not previously been publicly listed—rather than a sale of shares by the controlling shareholder. 

Adam Majeed - Regional editor