Spanish telecommunications company Cellnex’s €1.2bn rights issue has finished more than 16 times covered after its shareholders bought into its growth plans.
“It was a phenomenal result, but it just shows the trust that investors have in this company,” said a banker who worked on the rights issue.
Morgan Stanley, Goldman Sachs and JP Morgan are underwrote the transaction. They were global coordinators. BNP Paribas and CaixaBank were bookrunners.
The company intends