July 23, 2020 / 7:17 AM / 17 days ago

Existing Cellnex shareholders to take 18.77% of capital increase

MADRID (Reuters) - Cellnex (CLNX.MC) said on Thursday existing shareholders representing 18.77% of the company’s capital committed to take part in a 4 billion euro ($4.6 billion) capital increase in proportion to their holdings.

The company has said it would use proceeds of the capital increase to expand its infrastructure portfolio.

Investors who committed to the capital increase are Azure Vista C 2020, Canada Pension Plan Investment Board, Lisson Grove Investment and Permian Investment Partners. They respectively hold 6.73%, 4.95%, 6.73% and 0.29% of Cellnex shares.

Additionally, some Cellnex top executives committed to buy 0.06% of the new shares put out for sale.

Cellnex will issue 101.4 million ordinary shares with a subscription price of 39.45 euros, a nearly 30% discount to its Wednesday closing price.

Spun off from Spanish infrastructure operator Abertis in 2015, Cellnex has expanded to reach a market capitalisation of nearly 22 billion euros and become the fifth largest company on the IBEX 35 blue-chip index.

Reporting by Inti Landauro; Editing by Edmund Blair

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