GAM is the fifth company to float on the Spanish stock market this year. With a Public Offering for Sale and a Public Offering for Subscription, the equipment rental operator has placed 12,5 million share titles on the stock market, representing a 43,86% of its share capital, not including the green shoe .
Right after the opening bell, Mr. Pedro Luis Fernández, Chairman and C.E.O., emphasized the effort and high quality work of GAM’s employees, that has made possible this solid project after three years of activity.
GAM’s shares opened at 8,25 euros, after a light opening decrease, GAM’s titles started at 7,84 euros and closed at 7,60 euros per unit. This is a forseeable scenario, consitent with GAM’s positioning success in the continuous market.
With this I.P.O, GAM has fullfilled the three goals set for this operation: adding value to the company, taking liquidity from former shareholders, and offering an opportunity for new investors to join a very solid project. According to Mr Pedro Luis Fernández “From now on, we enter a new stage where we will continue working hard with great enthusiasm, and where we are eager to move forward in our purpose to continue expanding and achieving an ambituous market share”
After three years of activity, GAM has largely fullfilled its growth expectations, as a result of providing its customers with state-of-the-art equipment . GAM has continued developing a business segment where it is already a leading operator in Spain, and has also incorporated the new lines of business included in its growth strategy. |
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