VdA advises Novabase on €38m shares issuance

Vieira de Almeida (VdA) supported Novabase, a technology company listed on Euronext Lisbon, in issuing new shares through a capital increase funded by cash contributions. This issuance was aimed solely at shareholders who opted to receive their dividends in shares rather than cash. According to Vda, this operation enabled the distribution of dividends to shareholders and simultaneously capitalized the company by approximately 38 million euros, as 80% of the capital preferred to receive dividends in the form of new shares.

New precedent

This transaction, according to VdA, sets a precedent for other listed companies that wish to distribute dividends while enhancing their capitalization through share capital increases. It also preserves the option of cash dividends for shareholders and expands the number of shares in the market, thereby benefiting the overall market.

The advisors’ team

The VdA team handling this transaction comprised partner José Pedro Fazenda Martins (on photo) and senior associate Francisca César Machado from the Banking & Finance and Capital Markets team. Additional support and advice were provided by partners Paulo Olavo Cunha from the Corporate and M&A team and Francisco Cabral de Matos from the Tax team, along with coordinating associate Vanessa Cardoso Pires, principal consultant Joana Sequeira, and associates Carolina Tita Maurício, Carolina Vieira Amador, and Nadine Gomes. Banco BPI acted as the paying agent and provided technical and operational advisory services for this transaction.