Overview
- TSK shares rose 14% in early trading Wednesday, lifting the price to €5.78 from the €5.05 offer in the company’s first session on Spain’s main exchange.
- The company sold 29,702,970 new shares at €5.05 to raise about €150 million after investor orders ran roughly four times the amount on offer during bookbuilding.
- The deal includes a 15% overallotment option known as a greenshoe, allowing up to 4,455,445 extra shares to be sold and giving Banco Santander room to steady the price through June 12.
- TSK says it will use the funds to fuel growth, and executives aim to at least double revenue within three years with a push into North America.
- La Vanguardia reports the founding family keeps about 60% after the sale, though other outlets list slightly different post-offer stakes.