Vincorion IPO oversubscribed ahead of Friday debut
Vincorion says its IPO is oversubscribed ahead of its Friday listing. The defense firm aims to raise 345 million euros at a fixed price of 17 euros apiece.
The initial public offering of defense supplier Vincorion has attracted significant investor interest, with lead underwriters reporting on Monday that the order book is already multiple times oversubscribed. This high demand was noted shortly after the launch of a four-day subscription period, preceding the company's planned listing this Friday.
The majority shareholder, Blue Star Capital plc, which is based in the United Kingdom, is offering up to 20.3 million shares at a fixed price of 17 euros per share. The transaction is expected to raise approximately 345 million euros ($395 million) in proceeds. At the set offer price, a fully subscribed IPO would value the company at roughly 850 million euros.
