AZ Capital advised Cellnex on the capital increase, with preferential subscription rights for current shareholders

Cellnex Telecom S.A., listed in the Spanish Stock Exchange (IBEX 35), is the main independent infrastructure operator for wireless telecommunication in EuropeCellnex Telecom has informed the Spanish National Securities Market Commission (CNMV) of the decision adopted by the Board of Directors to execute a capital increase with preferential subscription rights, for an amount of EUR 2.5bn. The decision has been taken under the delegation obtained at the General Shareholders’ Meeting held on 9 May 2019.
The funds from the capital increase will be used to support the acquisition of the Arqivas’s Telecoms division, as well as Cellnex’s active projects pipeline.
The subscription price will be EUR 28.85 for each New Share, with a c.19.6% discount to TERP (theoretical ex-rights price) based on the closing price of the shares on October 7th 2019: EUR 37.91.
ConnecT, holder of 29.9% of the share capital of Cellnex, has committed to subscribe its corresponding shares in the capital increase. Similarly, Canada Pension Plan Investment Board (4,95%), Permian Investment Partners (0,94%), as well as the Board directors and members of senior management who currently hold shares (0,06%), have committed to subscribe their respective shares in the capital increase. “

AZ Capital

Advised in the sale of

Cellnex Telecom S.A.



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