Deadline looms for Tendam float

Deadline looms for Tendam float

JAUME MIQUEL: Tendam’s chief executive Photo credit : Tendam

Tendam, which owns Cortefiel and Women’s Secret amongst other labels, is working flat out to list in Madrid before July 12.

The clothing chain, now present in 79 countries, was acquired by private equity firms CVC Capital Partners and PAI Partners in 2017.

With a float that would value Tendam at an expected €2.5 billion, the company headed by Jaume Miquel hopes to attract the big US-based hedge funds whose investments are tied by a norm requiring an interval of fewer than 135 days since the end of a company’s financial year.

Tendam’s ended on February 29, and the company needs to list by Friday, July 12. As the process takes a month, it should make a decision “within days” according to analysts.

The last day that it can formally announce its intention to float is June 12 although the same sources said they believed this deadline would be met.

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Written by

Linda Hall

Originally from the UK, Linda is based in Valenca and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com.

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