Initial price: €28.00 / Metal recycler lists in the Prime Standard
Befesa S.A. (ISIN: LU1704650164) was listed in the Prime Standard of the Frankfurt Stock Exchange today. The IPO admitted around 34 million shares to trading. The initial listing price was €28.00; the issue price was €28.00.
Citigroup, Goldman Sachs International, J.P. Morgan, Berenberg, Commerzbank, Santander and Stifel led the IPO. Citigroup is the designated sponsor for Xetra trading while Baader Bank serves as specialist on Börse Frankfurt.
According to company information, Befesa is a leading international supplier of environmentally regulated services to the steel and aluminium industry. The company has locations in Germany, Spain, Sweden, France and the UK, as well as Turkey and South Korea.
With its two business units: steel dust recycling and aluminium salt slags recycling services, Befesa manages and recycles more than 1,300 thousand tons of residues annually and produces more than 600 thousand tons of new materials. The company then reintroduces the new materials in the market, reducing the consumption of natural resources.