The Murcian company Primafrio Corporación will debut on the Spanish Stock Exchange on June 24th, and the price of its shares will range between 9.30 and 12.10 Euro, bringing the company's value to between 1,302 million and 1,694 million Euro.
The Comisión Nacional del Mercado de Valores (CNMV) has approved Primafrio's IPO, according to which, 25% of the company's shares will be offered, with an over-allotment option for up to an additional 10% of the number of shares offered, reaching a free float of between 25% and 27.5%.
The IPO is aimed exclusively at qualified investors and Primafrio's shares are expected to start trading this coming June 24 under the PRF ticker on the Madrid, Barcelona, Valencia and Bilbao stock exchanges.
The founders remain as shareholders
The company, devoted to the road transport of fruit and vegetable products at controlled temperatures, said that the founders of Primafrio (Juan Conesa and José Esteban Conesa) will be majority shareholders.
Regarding the dividend policy, the company intends to maintain a distribution ratio of 60%. In 2020, the company had a turnover of 458 million Euro.