Amadeus sets a price of 11Euros per share

Amadeus sets a price of 11Euros per share

Amadeus IT Holding, S.A. has today priced the initial public offering of 119,684,662 of its shares at €11.00 per share implying a value of 100% of the company’s equity of €4.93 billion. This price is above the midpoint of the €9.20-12.20 per share range indicated on 14 April. The offering was over-subscribed at the offering price and was structured as a single global tranche for qualified Spanish and International investors.

The listing of the Company’s shares on the Madrid, Barcelona, Bilbao and Valencia Stock Exchanges is expected on Thursday 29 April. Amadeus IT Holding, S.A will trade under the symbol AMS.

The offering comprised a primary tranche of 82,727,280 shares equivalent to €910 million of gross proceeds which will be used to repay company debt. Additionally the offering comprised a secondary offering of an aggregate of 36,957,382 shares, which will be sold by Amadelux Investments, S.à r.l. (which is owned and controlled by funds advised by the private equity firms, BC Partners and Cinven), by two of the Company’s airline shareholders, Lufthansa Commercial Holding GmbH and Société Air France, and by a limited number of members of Amadeus Management (including former employees).

In accordance with usual market practice, an over-allotment option has been granted by the selling shareholders (other than Amadeus management) to the Joint Global Coordinators for an amount of shares equal to 10% of the total offering.

Amadelux Investments, S.à r.l., Lufthansa Commercial Holding GmbH and Société Air France participated in the secondary offering pro-rata to the current number of ordinary shares they own, offering 21,274,939 shares, 9,330,737 shares and 4,665,369 shares, respectively.


Amadeus’ other principal shareholder, Iberia Líneas Aéreas de España S.A., has elected not to participate in the offering.

Assuming the over-allotment option is exercised in full, our principal shareholders will hold 66.48% of our shares, and the public will hold 29.41% of our shares.

Goldman Sachs International, J.P. Morgan and Morgan Stanley are acting as Joint Global Coordinators and Joint Bookrunners of the offering. Rothschild is acting as financial advisor to Amadeus in connection with the offering. Amadeus has been advised by Freshfields Bruckhaus Deringer LLP on the offering and the Joint Global Coordinators have been advised by Uría Menéndez, as to Spanish law, and Davis Polk & Wardwell LLP, as to U.S. law.