Mubadala-owned CEPSA has announced its Intention To Float (ITF) on the Madrid, Barcelona, Bilbao, and Valencia Stock Exchanges and be quoted on the Automated Quotation System (the AQS) of the Spanish Stock Exchanges.
The Mubadala Group has had a successful, 30-year partnership with CEPSA, having been an active shareholder since first investing in 1988. It became the sole owner in 2011 when it acquired all outstanding shares.
Musabbeh Al Kaabi, the chief executive of Mubadala’s Petroleum and Petrochemicals platform, commented, "We are proud of our partnership with CEPSA, which is a strategic energy investment for Mubadala and a national industrial champion for Spain.
“We are committed to delivering the IPO with a listing on the Spanish exchanges as a natural and strategic fit for Cepsa that will provide wider access to capital markets to support financial flexibility,” Kaabi added.
The minimum free float of shares after the listing is expected to be at least 25 percent. The IPO is expected to take place in the fourth quarter of this year and is subject to market conditions, the company said.
Mubadala Investment Company is owned by the Government of Abu Dhabi and is innovating and investing around the world to transform the UAE’s economy and create lasting value for its shareholder and partners.
CEPSA is an investment under Mubadala’s Petroleum and Petrochemicals platform that builds on its rich heritage in the oil and gas sector through investments in leading companies that operate across the hydrocarbon value chain.
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