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Logistics parks company CTP raises 854 mln euros in Amsterdam IPO

AMSTERDAM, March 25 (Reuters) - CTP NV, an owner and operator of logistics parks in Central and Eastern Europe, said on Thursday it had priced shares in its initial public offering (IPO) at 14 euros each, implying a 5.6 billion euros ($6.62 billion) market capitalization as it lists on the Euronext stock exchange in Amsterdam.

The company, based in Utrecht but headquartered in the Czech Republic, said it had sold 61 million new shares, or 15.4% of shares outstanding in the offer, raising 854.2 million euros, excluding over-allotment options.

CTP says it will use the money raised for “development projects and construction activities, selective property acquisitions and debt repayment.”

The company reported pre-tax profit of 290 million euros in its most recent reporting year and has 400 employees.

The firm is the latest in a spate of companies choosing to list or move to Amsterdam following Britain’s decision to leave the European Union.

Shares are due to begin trading on Thursday morning. ($1 = 0.8464 euros) (Reporting by Toby Sterling; editing by Uttaresh.V)

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