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Mubadala-owned CEPSA Announces 'Intention To Float' On Spanish Stock Exchanges
Fakhir Rizvi Published September 17, 2018 | 02:15 PM
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 17th Sep, 2018) Mubadala-owned CEPSA has announced its 'Intention To Float' (ITF) on the Madrid, Barcelona, Bilbao, and Valencia Stock Exchanges and be quoted on the Automated Quotation System (the AQS), or Sistema de Interconexion Bursatil Espanol (SIBE) or "mercado continuo", of the Spanish Stock Exchanges.
CEPSA, headquartered in Spain, is a world-leading integrated energy company which operates across the entire oil and gas value chain (Exploration & Production, Refining, Marketing, and Petrochemicals). It has also recently entered the renewable energy market to add to the solutions offered to its customers worldwide through operations across five continents and 20 countries.
The Mubadala Group has had a successful, 30-year partnership with CEPSA, having been an active shareholder since first investing in 1988. It became the sole owner in 2011, when it acquired all outstanding shares.
Musabbeh Al Kaabi, Chief Executive Officer of Mubadala’s Petroleum & Petrochemicals platform, and a member of the Mubadala Investment Committee, commented, "We are proud of our partnership with CEPSA, which is a strategic energy investment for Mubadala and a national industrial champion for Spain.
"Today’s Intention to Float is a result of the strong foundations the business has built to become a well-established, integrated energy company and a global leader in a number of important product markets.
"We are committed to delivering the IPO with a listing on the Spanish Exchanges as a natural and strategic fit for CEPSA that will provide wider access to capital markets to support financial flexibility."
The minimum free float of Shares after the Offering is expected to be 25 percent prior to any over-allotments. The Offering is expected to take place during the fourth quarter of 2018. The IPO is subject to market conditions.
Mubadala Investment Company is owned by the Government of Abu Dhabi and is innovating and investing around the world to transform the UAE’s economy and create lasting value for its shareholder and partners.
CEPSA is an investment under Mubadala’s Petroleum and Petrochemicals platform that builds on its rich heritage in the oil and gas sector through investments in leading companies that operate across the hydrocarbon value chain.
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