The public share offering effected by Repsol in April
1995 was named the best European placement of the year by the international
financial press. Repsol's third privatization received five prizes from
specialized publications, which made a special mention of its innovative design
and excellent structure.
In April of last year, Repsol offered 57 million
shares for sale to institutional and retail investors. This placement was well
received amongst retail and institutional investors alike. There was a strong
demand which made it necessary to increase the initial offering (from 15% to
19%).
- World Equity (January 1996 issue), the magazine that
gave Repsol the prize for the best European placement, states that the Spanish
group made the offer a complete success in spite of somewhat unfavourable
circumstances. World Equity places special emphasis on the discounts used as an
incentive by Repsol to retail investors.
- "Repsol broke the
mould", says the International Financing Review (December 1995 issue), also
describing the sale of shares by the Spanish group as the European Equity Deal
of the Year for 1995. This specialized publication also expressed its admiration
for the attractive package of incentives devised by Repsol.
-
Euromoney (September 1995 issue), which granted Repsol an award for the
best European equity deal of the year, underlined the fact that the company
managed to overcome adverse conditions thanks to its original design and
planning, and the audacity of its advertising campaign.
- Corporate
Finance (December 1995 issue), expressed a similar opinion in describing
Repsol's privatization as, "A well structured international offering", and, "A
combination of excellent presentation and innovation". This magazine also
awarded the 1995 share placement a prize as the best offering of the year,
making special mention of the discounts accompanying the retail tranche which
raised demand to double the shares offered.
- Lastly, International
Equity Review-Euroweek (January 1996 issue), has just granted Repsol a
prize for the best privatization of the year.
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