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Spain’s Gestamp Plans €3.7 Billion IPO
Madrid-based Gestamp Group is launching an initial public offering that values the Spanish metal stampings supplier at €3.7 billion, Reuters reports.
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Madrid-based Gestamp Group is launching an initial public offering that values the Spanish metal stampings supplier at €3.7 billion, Reuters reports. The company announced last October its intention to list.
Gestamp operates 100 facilities in 21 countries, supplying body panels, structural components and mechanisms to more than 15 carmakers in Europe, Asia and the Americas.
The 20-year-old company plans to list its shares on four Spanish stock exchanges in the second half of 2017. Last year the company reported a 37% jump in net profit to €221 million ($236 million), as revenue climbed 7% to €7.5 billion ($8 billion).
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