The public offer for the sale of the shares of Sonae MC (the retail and real estate business of the Sonae group) began on Monday. However, the session was marked by the devaluation of the mother house, which reached a minimum of more than a year and a half.
Sonae shares closed this Monday at PSI 20, with a loss of 0.93% to 0.8525 euros. Throughout the day, they reached a minimum intraday of 0.8430 euros per share, and the bonds had not touched such a low value since February 22 last year.
Although the consensus among the analysts indicates that the operation is beneficial for the whole group, Sonae was penalized by the generalized negative sentiment on the European stock exchanges. Compliance with the Brussels levies on Italy's fiscal targets became more uncertain and European stocks sank. In PSI 20, only two quoted closed in the 'green'.
The OPV prospect of Sonae MC indicates that the price range is between 1.40 and 1.65 euros per share, which evaluates the company between 1.4 billion euros and 1.65 billion euros. euros. Considering the higher value of the range, Sonae MC may become the tenth company with the largest market capitalization in PSI 20.
Both retail and institutional investors will have access to the shares, but the former will only hold 5% of Sonae MC's share capital. The retail offer ends on October 17 and the institutional offer the next day. The shares will be admitted to trading on Euronext Lisbon on October 23, with the SONMC ticker.
Quick Answers. The sale of shares of Sonae MC