Lisbon - 5 December 2013– CTT – Correios de Portugal, S.A. (ticker symbol: CTT), the leading postal operator in Portugal, celebrates today its listing in Lisbon on Euronext N.V., a wholly owned subsidiary of IntercontinentalExchange Group, Inc. (NYSE: ICE). The IPO consists of a secondary sale of up to 70% of CTT’s ordinary shares currently held by the Portuguese State through Parpública, a holding that manages State participations.
The company is listing all its capital shares - 150 000 000, valuing CTT at €885 million at the listing date, with an openning price of €5.90. In the IPO, 105 000 000 shares were sold to institutional and retail investors at a price of €5.52. The demand to retail investors was more than nine times the offer. The offering comprised the sale of shares to institutional investors (80% of the offer), as well as to retail investors in Portugal (15%), and to CTT employees (up to 5%). Parpública will keep a minimum stake of 30%.
"We are pleased to welcome CTT to the Portuguese Stock Exchange. This listing represents a new phase for the company and its stakeholders, but it is also an important indication of confidence in the country and in our capital market, which is particularly relevant in the current context”, said Luís Laginha de Sousa, Chairman and CEO of Euronext Lisbon. “We hope that other companies, thanks to the example of CTT, consider the capital markets as an alternative and important instrument for financing their activities and growth", he added.
"I am very proud to be part of this historic moment in the path of such a great company as CTT. We faced this challenge with enthusiasm and that feeling remains unchanged now that we’ve finalized the process successfully and CTT shares will be listed on Euronext Lisbon”, said Francisco de Lacerda, Chairman and CEO of CTT."We’ve all worked, CTT, Government, Parpública and advisors with rigor, determination and professionalism, allowing this IPO to be a success. I address my sincere congratulations to all and I thank the investors who have shown their trust in this project”,he added.
To celebrate the listing Chairman and CEO of CTT, rang the closing bell yesterday, together with Ministry of the Economy, the Secretary of State of Finance, the Secretary of State of Infrastructures, Transport and Communications, Chairman and CEO of Euronext Lisbon, Head of markets of Euronext Lisbon and the rest of the board of CTT.