IPOs are back in force in Lisbon
IPO activity was intense in Lisbon in 2013. Nexponor “opened the market” in June with an Alternext listing by raising €65 million in new equity. However, it was December that tipped the scales with two IPOs and one technical listing:
5 December: CTT Correios de Portugal listed on Euronext after the government sold a 70% stake: 14% to retail and 56% to institutional investors. Over 25,000 investors bought CTT shares in what was the largest IPO in Portugal since 2008.
12 December: German-based HQ Life listed on Easynext Equities. This private equity company was the first to list on this market since 1999.
- 17 December: Caixa Económica Montepio Geral raised €200 million in participation units. Roughly 25,000 retail investors, all Montepio clients, subscribed to these innovative equity instruments.