Yesterday, SPAN published a document on the Zagreb Stock Exchange announcing an Accelerated book building process for the sale of 115k of existing ordinary shares of their shareholders via InterCapital. SPAN shares were offered via accelerated book building (ABB) in the price range of HRK 210 to HRK 250 per share in the period from 10am Wednesday(19 January) until 10am Thursday(20 January).
In total, this amounts to the maximum transaction value of HRK 28.7m for approximately 6% of SPAN’s share capital (excluding treasury shares). In relative terms, such a transaction at mid-pricing would translate into 24.3x P/E and 6.4x EV/EBITDA. Note that the finalizing of transaction and final price is expected to be announced today after 10:00 hours and that the sellers have agreed not to sell any further ordinary shares for the period of 6 months.
When looking at SPAN more closely, the company’s share price decreased 2.16% in yesterday’s trading session (to HRK 226). As a result, SPAN is currently traded at 23.9x P/E and 6.2x EV/EBITDA.
The announcement and further details of the transaction can be found on Zagreb Stock Exchange page here.