Europastry will hold an IPO tomorrow, aiming to make its stock market debut in July.

The nation’s leading frozen dough producer expects a valuation of at least 2 billion euros.

Europastria late in the evening I decided to officially launch its IPO and make an official transaction announcement (ITF) tomorrow before the CNMV, according to market sources consulted by EXP.ANSION.

The obligatory begins from now on investor educationin which the coordinating banks (ING, JPMorgan and UBS) debate with investment funds. possible valuation of the company and set a price range and then exit Roadshowa period during which the firm’s managers meet with the most interested investors to provide them with more detailed information about their strategy and to finalize the list of offerings.

He investor education This usually lasts a week and Roadshow about two, so it is expected that the leading producer in Spain in the frozen dough sector for bakery and confectionery products price set for the week of July 8 to be the star of a regular stock market call a few days after this important milestone.

MCH leaves the capital

Sources interviewed indicate that Europastry expects valuation of at least 2 billion euros in progress.

Company controlled Galles family (80%) and also took part Spanish venture fund MCH (20%) provides for an IPO that combines an initial public offering (IPO) of existing shares with a public offering for subscription of new securities (OPS).

The size of the capital increase tranche will be 225 million euros., the resources the company will devote to reducing debt to adopt a balance sheet structure in line with public markets, which are more demanding than private markets in terms of leverage, this newspaper reported on May 9. By joining the IPO tranche, The placement amount will be approximately 600–700 million euros.approximately.

The IPO process has been dubbed the Brioche Project and MCH is expected to try to sell the entire 20% stake it has held for more than a decade. It is possible that the Galles family, who founded the company in 1987, also get rid of some of his actions ensure liquidity of shares and improve free swimming despite the fact that he had no commercial activity in this transaction.

In fact, the family’s intention is to retain at least 60% shares of Europastry will continue to lead the group’s strategy in the coming years.

BBVA, CaixaBank, Rabobank and Santander They also participate in the transaction as joint bookrunnersBye Banca March, JB Capital and Mirabaud How co-lead arrangers. Banco Sabadell is the financial advisor to Europastry. These banks are currently in touch with potential investors to gauge their appetite.

On legal issues, the company cooperates with the law firms Davis Polk and Cuatrecasas. Linklaters and Garrigues They are consultants to a banking syndicate.

Europastry could make a second jump to the marketplace this year following Puig’s successful debut if it successfully completes the process.

Tendam, I’m waiting

Tendam The company could also be the star of its IPO announcement this week. And the textile group, owner of such brands as Cortefiel, Pedro del Hierro, Springfield and Women’Secretyou should conduct an FTT in the next few days if you want to take advantage of the current market window due to the expiration of your annual accounts.

As a rule, the last day for Tendam to price its stock market debut before its financial statements become outdated (July 13) is July 12 next year, so the IPO is running on time.

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