Enterprise Investors-backed Novaturas readies for IPO

Enterprise Investors, which holds a 70.7% majority stake, and other selling shareholders are collectively offering 3,903,500 in Novaturas. Meanwhile the maximum price for retail investors was set at €13.5 per share. 

The offered shares represent 50% of the company's total share capital. EI intends to retain a stake in the company, but it was not clear yet what percentage it will own post-IPO, a spokesperson for the GP told Unquote.

The other selling shareholders include European Tour Operator, which is offering 3,141,500 shares, while private investors Rytis Šūmakaris and Vidas Paliūnas are both each offering 381,000 shares.

The Bank of Lithuania approved the company's bid for admission to the Warsaw Stock Exchange and the Nasdaq Vilnius on 23 February. Subscriptions for company shares for individual investors are planned from 27 February to 7 March.

The overallotment option could see shares increase up to 1,249,120, with the possibility to extend this up to 5,152,620 shares. In total, the company is seeking to register and trade 7,807,000 existing ordinary shares on the stock exchanges.

The deal ends a 10-year holding period under Enterprise Investors after investing €40m in the company to become the majority shareholder in November 2007, according to Unquote Data.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• CEE
• Consumer
• Poland
• Baltics
• Enterprise Investors