Nexi down on the Ftse Mib after the Mercury funds closed the placement of part of their package in the company at 15,50 euros. At the start, the shares failed to gain price and in the middle of the day they lost 4,2% to 16,14%.
Following the announcement of the merger agreement with Sia, the private equity funds, reference shareholders of Nexi, Mercury UK Holco, the vehicle of the Bain Capital, Advent and Clessidra funds, yesterday announced their intention to sell 13,4% of Nexi's capital, equal to approximately 84 million shares, through an accelerated placement at a price of 15,50 euros per share. The figure incorporates an 8% discount compared to yesterday's closing price on the Stock Exchange at 16,855 euros. The total value ofThe operation is equal to 1,382 billion euro.
Bookbuilding involves Barclays, Citigroup and Goldman Sachs as joint global coordinators and Joinr Bookrunners. Rothschild is Mercury's advisor.
By virtue of the proposed merger of Sia into Nexi, which should be completed by the summer of 2021, Mercury has also undertaken with the placement banks to define a lock-up period on the remaining Nexi share package which, once the sale is completed, will amount to 126 million shares, corresponding to 20,1% of the share capital and 14% of the post merger pro forma share capital with Sia. The lock up will concern 100% of the shares held by Mercury for the first 6 months following the closing of the Sia operation and 50% of the shareholding for the following 12 months under certain conditions.
After the various operations, CDP through CDPE and FSIA will hold just over 25% of Nexi's capital, while Mercury will drop from 20 to 14%.
