We use the same proven techniques from our IPO processes to deliver the same results for follow-on offerings and capital increases. During 2019 we advised on two of the largest capital increases, including the €2.5bn rights offering by Cellnex to support its acquisition of Arqiva towers (company awarded IFR Corporate Issuer of the Year).
To optimise value in any share placement, a “shadow book” of educated and willing buyers must be developed for a successful offering and aftermarket. We use our Investor Mapping techniques and work with all of the leading coverage banks to ensure you receive the clearest insights into the correct timing and likely reception for any proposed sale of shares.
Where our Strategic Research Advisory team is involved in advance of a placement, it is changing outcomes and contributing to a significant positive impact on share price. For example, as part of our engagements for Marel (Icelandic dual listing in Amsterdam) and Munters (Norway), work done by the team contributed to a share price increase of over 50% from our engagement to the execution of share offerings.
Whatever the offer structure, STJ will run a highly competitive process to deliver the highest quality placement – in terms of price, size and investor participation.