Initial Public Offering

€ 948 million
Joint Bookrunner
;

CTP

Joint Bookrunner

Kempen & Co acted as Joint Bookrunner in the c. €947.9 million Initial Public Offering of CTP

Transaction highlights

  • Initial Public Offering on Euronext Amsterdam, issuing 67,709,723 new shares at a price of €14 per share, raising c. €947.9 million in gross proceeds (after exercise of the over-allotment option)
  • This transaction represents the largest IPO in European Real Estate since 2014
  • The offer was oversubscribed multiple times at the offer price with strong demand from institutional investors globally, including a significant proportion of high quality long-only accounts
  • Gross proceeds are intended to be used to accelerate CTP’s growth strategy by, amongst others, financing its development projects and construction activities, selective property acquisitions and debt repayment
  • Remon Vos will continue to be the company’s largest shareholder and hold approximately 83% of the shares, with the free-float amounting to 17%

About CTP

  • CTP is the largest full-service owner-developer of prime industrial and logistics property in the CEE region and is among the largest logistics property companies in Europe based on GLA
  • The company focuses on the development and ownership of large multi-use industrial and logistics business parks in order to address the largest potential tenant base via a flexible offering
  • As of 31 December 2020, the company had a property portfolio of 6.3 square million metres of GLA with an occupancy rate of 94%, GAV of €5.9 billion for the entire property portfolio and of €5.1 billion for its income producing assets
  • CTP primarily operates in the Czech Republic and also in Romania, Hungary, Slovakia, Serbia and Poland

Kempen Real Estate credentials

  • Kempen & Co has been involved as Global Coordinator / Bookrunner in the four largest European Logistics Real Estate ECM transactions of Q1 2021
  • Kempen has advised on Real Estate transactions in 13 different countries in Europe since 2017
  • This transaction underpins our leading position in European Real Estate ECM since 2011 as well as our #1 position in European Real Estate IPOs since 2011
 

Contact

Dick Boer
Thomas ten Hoedt

Transactions