Garrigues orchestrates Grupo Arteche´s IPO roadmap
Garrigues is advising on the preparation of Grupo Arteche´s IPO to improve its market position
The Board of Directors of Arteche Lantegi Elkartea S.A. (together with its subsidiaries, “Grupo Arteche”) has announced its intention to propose to the General Shareholders’ Meeting to carry out a capital increase to address its growth strategy and the subsequent incorporation of its shares in BME MTF Equity’s BME Growth trading segment. The objective of this operation is to continue to boost our growth and improve our market position, in line with our mission to be an international benchmark in the electricity sector.
For 75 years Arteche has been combining energies to move towards the future, focusing our activity on the design, manufacture and marketing of electrical equipment and solutions for the measurement, protection, automation and control of the electrical system networks.
As the company states: “We see the fruit of our hard work, the result of a collective effort carried out throughout our history. We are announcing our intention to propose the General Shareholders’ Meeting a capital increase to address our growth strategy and the subsequent incorporation of shares in BME MTF Equity’s BME Growth trading segment. This is a milestone that will undoubtedly mark a turning point in our history.”
The purpose of this operation is to continue to boost the company´s growth and improve its market positioning, in line with its mission to be an international benchmark in the electricity sector, with a vocation to help its customers and provide maximum value in order to grow together in the development of the electricity grid of the future.
“We aspire to always be at the forefront of technological innovation in the sector and be recognised internationally for the quality and level of the service in all our products and solutions for the transport network and the distribution of energy. And this operation responds to that,” the company stated.
For this deal, Arteche is being advised by Banco Santander and JB Capital, who will act as Joint Global Coordinators and Bookrunners, and Norbolsa, who will act as Co-Lead Manager. In addition, Garrigues and Cuatrecasas will act as Legal advisors to the company and the underwriters (respectively); and Norgestión will be the registered advisor.
Garrigues is advising with a team formed by Commercial partners José Luis Palao (pictured left) and Alberto Guerra (pictured right), principal associates Li jun Chen and Ana Barandiarán, and associate David Fernández.