PROSEGUR CASH - En pro de la excelencia
Bolsas y Mercados Espanoles (BME) the Spanish stock exchange, hosted the two largest European IPOs of the quarter, security services group, Prosegur Cash raised €750m and Spanish home builder Neinor Homes raised €709m.
To give some indication of investors’ appetite, the Neinor Homes IPO was oversubscribed in just one day, which for a Spanish property company would have been unthinkable until recently.
The recent uptick in Spanish activity has been supported by the general improvement in market conditions and political stability.
The forthcoming BME IPOs of Gestamp and Unicaja look to continue this trend into Q2 2017.
Lucy Tarleton, Capital Markets director at PwC, said: