Luxembourg-based investment company CVC Capital Partners Plc has raised 2.0 billion euros ($2.15 billion) in an IPO, completing the protracted listing process of one of Europe's largest private equity firms. This is reported
In line with the high demand for the company's shares from investors, CVC increased the total volume of the offering by 500 million euros and set the price at 14 euros per share, estimating the company's market value at 14 billion euros.
The company's proceeds from the placement amounted to 250 million euros, and the rest of the raised capital was transferred to shareholders. If the option to redistribute funds is implemented in full, the transaction amount will increase to 2.3 billion euros.
Two founders of CVC, as well as GIC Pte, Kuwait Investment Authority and Hong Kong Monetary Authority, as sponsors of CVC, sold shares of the company as part of the IPO. The investment company Blue Owl Capital Inc., which already owns a stake in CVC, bought out 10% of the company's shares.
Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley acted as joint global coordinators for the placement of shares to be traded on the Amsterdam Stock Exchange.
CVC is an investment company with assets worth 186 billion euros under management. The company owns shares in a Swiss company Breitling and the American-British Lipton Teas and Infusions. Funds managed by CVC have invested in more than 100 companies. The headquarters is located in Luxembourg with offices in the EMEA region, Asia and the Americas.
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