Cellnex draws almost €100bn of demand for €2.5bn rights issue

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By Sam Kerr
01 Nov 2019

Cellnex, the Spanish telecommunications company, has closed the books on its cash call to fund its acquisition of Arqiva's tower business, attracting huge levels of demand for shares.

Goldman SachsJP Morgan and Morgan Stanley are global co-ordinators on the fully underwritten rights issue. Banca IMI, SantanderBNP Paribas, CaixaBank, CitiDeutsche BankHSBC and Mediobanca are bookrunners.

The shareholder subscription was 99.53% and the deal attracted enough demand to sell the new shares on offer 38.2 times; ...

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