- The capital increase that was carried out by private placement procedure among qualified investors from Spain and the rest of Europe, has given entrance into Reig Jofre’s shareholder base to the Family Office Onchena and to the Swiss investment fund Quaero Capital, among others
- Following the capital increase, Reig Jofre Investments, the majority shareholder, diluted its stake up to 62.7% and the free float increased up to 21.3% compared to 15.7% prior to the transaction
The capital increase allowed the entry into the shareholding, among others, to family offices such as Onchena, whose long-term investment philosophy seeks to accompany solid business projects in specific sectors; as well as to institutional investors such as the Swiss investment fund Quaero Capital SA specialized in European small and medium capitalization companies. The rest of the investors that signed up for the increase have been mainly relevant fund managers in the Spanish market. 23% of the capital increase has been subscribed by international investors, and the remaining 77% by national investors.
After the increase, the shareholding of the majority shareholder, Reig Jofre Investments, the investment vehicle of the Reig Jofre family, was diluted up to 62.7% of the capital compared to the previous 72.2%, Natra to 10.1%, and the free float rose from 15.7% prior to the increase to 21.3%, fulfilling so the will expressed frequently to the market, to increase the liquidity of the value and allow the entry of new partners interested in the project.
The funds obtained will be used to finance future growth opportunities, both organic and inorganic, that will allow to continue expanding the Company's business areas with corporate actions that have a strategic fit and add value (i) expansion plans in the areas of specialty products (Skin, Hair and Nails Health and Women's Health) and Consumer Healthcare, which will strengthen the company's current presence in the markets of France, Spain, United Kingdom, Belgium, Nordic countries, Portugal and Southeast Asia; and (ii) to the ambitious investment plan of more than 60 million euros started in 2017 in the area of pharmaceutical technologies (specialized in sterile antibiotics and injectable products), which will conclude in 2020.