CVC raises €812m in bpost IPO

The initial stock price of €14.5 per share allowed CVC to make €812m from selling a 28% stake.

Including the over-allotment option, the firm is selling up to 56 million shares in the flotation, approximately equivalent to a 32.5% stake in the business. This means that the GP would retain approximately a 17.3% stake in the Belgian postal service.

Unquote" previously reported on bpost's 20% reservation of stock specifically for retail investors. The company has confirmed that slightly more than 20% of the offering has been sold to retail investors.

Approximately 924,000 shares have been sold, separately from the offering, to bpost staff under the employee share purchase plan. The company's employees were originally offered 5.5 million shares.

The state-backed postal company listed under the symbol "BPOST". The IPO valued the company at €2.9bn.

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• Topics
• Benelux
• Exits
• Consumer
• CVC Capital Partners
• Belgium
• Partial sale
• IPO