Cellnex Telecom has notified the National Securities Market Commission (CNMV) of the result of the capital increase for approximately 7,000 million euros, whose subscription period began on April 1.
In the communication to the CNMV , the company has highlighted that 99.37% of the company’s preferential subscription rights holders have attended the increase and that the demand has exceeded the total of 192.6 million by 45.6 times of new shares of the increase. The new shares to be issued are equivalent to 40% of the capital before the increase.
The funds from the increase will be used to strengthen and increase own resourcesof the company to continue supporting its expansion within the framework of its growth strategy in Europe.
At the time of announcing the increase on March 30, the Chairman of Cellnex , Bertrand Kan, highlighted the Board’s support “for a sustained growth strategy that, in six years since going public, has led the company to extend its operations to 12 countries in Europe, multiply its size by five and occupy a position of clear European leadership among telecommunications infrastructure operators .
Since its IPO, Cellnex has announced investments and investment commitments worth approximately 36,500 million euros, and has a portfolio of projects that allows us to believe that this growth process will continue, maintaining the attractiveness and interest of investors and shareholders in a project that since May 2015 has reported a total return for the shareholder of more than 290%.”
Referring to the result of the increase, Tobias Martinez, CEO of Cellnex, underlined the reception of the increase by investors, “a large majority of the holders of preferential subscription rights for the company’s shares –99.37%–, have supported the increase and thereby have reinforced the company’s path and growth project.

Repeated confidence

The fact that, in addition, the total demand has exceeded the supply of new shares by 45.6 times is a clear indicator of the interest and attractiveness that the Cellnex project continues to arouse among investors, after having already carried out two capital increases in 2019 and one in 2020 for a total of 7,700 million euros. This reiterated trust is a reason for demand and responsibility for those of us who are entrusted with the day-to-day management of the company”.

Technical data
The increase has been carried out through the issue and circulation of 192.6 million ordinary shares at a subscription price (capital plus issue premium) of 36.33 euros for each new share. The effective amount of the capital increase amounts to approximately 7,000 million euros.
Pre-emptive subscription rights have been assigned to all Cellnex shareholders who had acquired shares up to March 31, 2021 and whose transactions were registered with Iberclear up to April 6, 2021 (both inclusive).
Each share in circulation at that time granted the right to receive a preferential subscription right. 48 rights were required to subscribe 19 new shares. The preferential subscription period ended on April 15.
The new shares confer on their holders the same political and economic rights as the ordinary shares of the Company currently in circulation, from the date on which Cellnex declares the capital increase subscribed and paid up.

insurance contract
Cellnex signed an underwriting agreement with JP Morgan AG, Barclays, BNP PARIBAS and Goldman Sachs Bank Europe SE, as Joint Global Coordinators and Joint Bookrunners, Banco Santander, CaixaBank BPI, Deutsche Bank, Morgan Stanley, Mediobanca, Societe Generale, BBVA, Banco Sabadell, Credit Agricole CIB, IMI – Intesa Sanpaolo, Mizuho Securities, MUFG, SMBC Nikko and UniCredit Corporate & Investment Banking, as Joint Bookrunners and ING, RBC Capital Markets and Natixis, as Co-Leads.

Previous articleDiego Lainez, with Betis two and a half months later
Next articleCharlene, the ‘sad princess’