Amsterdam - 24 November 2014– Euronext today welcomed Mota-Engil Africa N.V., a leading provider of integrated engineering and construction services in Sub-Saharan Africa. Trading in the Mota-Engil Africa shares (ticker symbol: MEAFR) started this morning on Euronext Amsterdam.
Mota-Engil Africa has 68 years of experience in Africa with a portfolio of services which ranges from Engineering, Construction and Logistics to Environment and Services. It currently operates in ten African countries comprising its primary markets of Angola, Malawi and Mozambique.
Mota-Engil Africa was listed on Euronext through the admission of all of its 100,000,000shares.
The opening price was €11.50per share, resulting in a market capitalisation of €1.15 billion.
According to Gilberto Rodrigues, CEO of Mota-Engil Africa “the listing of Mota-Engil Africa represents a new phase in the company’s development, reinforcing, through this process, its visibility within the stock markets, ensuring a higher and wider diversification of investors, enabling an adequate short-term capitalization of the company, and allowing a greater dynamic expansion of the activity throughout the African continent in the context of the existing projects.”
As for the choice of the European stock market for the listing project, Gilberto Rodrigues adds that “Euronext, being the second largest European stock market and one of the five largest of the world on IPO’s in 2014, ensures us an expectation of liquidity and visibility within the investment community which places us in the front row of the companies in Africa, and conferring expectations of a gradual and fair value recognition of a company that has a worldwide recognized best-in-class performance within the existing construction companies in Africa.”
“We are pleased to welcome Mota-Engil Africa to Euronext,” said Jos Dijsselhof, acting CEO of Euronext Amsterdam. “The listing on our market will raise the company’s visibility in the international capital markets and give it access to a large and diverse pool of investors, allowing it to develop and successfully market its services.”
“Across our listing venues, we see international companies turning to Euronext as Europe’s preeminent stock exchange,” said Albert Ganyushin, Head of International Listings at Euronext.“These issuers are attracted to the biggest single cash equity order book in the Eurozone, the highly international investor base and the flexibility of our listing product. Recent international listings on Euronext included growth SMEs such as Mainstay Medical and Probiodrug as well as large cap international issuers like Pershing Square Holdings, Altice and OCI, the latter with significant operations in Africa.
We are delighted to add Mota-Engil Africa to our community of international issuers and look forward to helping the company successfully develop the liquidity and investor profile that would support the company’s growth and realisation of its business strategy.”
To mark the listing, Gilberto Rodrigues, sounded the gong in Amsterdam to open trading on Euronext, accompanied by Mota-Engil Africa’s Management, advisers and the Euronext team.