The FINANCIAL -- EnterNext, the Euronext subsidiary designed to promote and grow the market for small and mid-cap companies, on May 12 welcomed TINC, a Belgian infrastructure investment company, on the regulated market of Euronext Brussels.
TINC is a Belgian investment company holding investments in predominantly mature and operational public and private infrastructure assets. TINC holds and has contracted a diversified portfolio of investments in Public Private Partnerships, energy and real assets, located in Belgium and The Netherlands. Since its inception in 2007, TINC has built an investment portfolio of infrastructure assets, including road infrastructure, light rail infrastructure, a business centre, a car park and energy infrastructure. This portfolio is generating cash flows of a long term sustainable nature which is the basis for TINC's dividend policy, according to Euronext.
TINC (ticker code: TINC)TINC raised €110 million at a final offer price of €11.00. The market capitalization of TINC at IPO amounts to €141,084,416 based on the base offering.
Manu Vandenbulcke, CEO of TINC, commented: “We are very pleased that the IPO of TINC is widely supported by savers and institutional investors, and that this new asset class is welcomed with enthusiasm on Euronext Brussels. The IPO gives us the strength to expand our investment portfolio, thus consolidating a solid basis for a sustainable dividend to our shareholders. We want to thank our new investors for their confidence and thank our existing investors for many years of commitment. This successful project is also the result of a close collaboration with many partners, whom we also like to thank for their support. We look forward to the continuation of this cooperation.”
Vincent Van Dessel, CEO of Euronext Brussels, declared: “We want to extend a warm welcome to TINC as it lists on Euronext, in an IPO whose success will help raise the company’s profile in Belgium and abroad. Euronext is delighted to be a partner of TINC as it moves ahead with new projects, which will benefit from the financing options offered by the capital markets.”
Alain Baetens, Head of Listings of Euronext Brussels,said: “TINC is the first listed infrastructure company in Belgium and ranks as the second largest IPO year to date within EnterNext. It also ranks in the top 10 of largest IPOs on Euronext Brussels in the last 15 years. The listing offers investors a unique opportunity to invest in the infrastructure asset class, where we see a continuing trend towards private sector involvement. We are delighted the company has seen a large interest from institutional and retail investors for its IPO, and our teams will further assist the management of TINC in raising its listing visibility and connecting with the investor community.
To celebrate the listing, Manu Vandenbulcke, CEO of TINC, and Jean-Pierre Blumberg, President of the board of TINC, rang the bell in Brussels to open trading on Euronext’s Brussels market.