16.10.2018 • NewsElaine BurridgeCepsa

Cepsa Postpones IPO on Market Volatility

Cepsa is delaying its initial public offering (ipo) because of recent uncertainty in international capital markets. The announcement comes less than a month after the Spanish oil and gas company said it would offer a 25% stake, potentially raising up to €2.02 billion.

Parent company Mubadala Investment said it had decided to delay the public offer because the recent market instability had significantly reduced the appetite of international investors,   affecting Cepsa’s valuation.

Musabbeh al-Kaabi, CEO of Mubadala’s petroleum and petrochemicals platform and a member of the Mubadala investment committee, commented: “Even though recent market conditions deteriorated significantly, the feedback from potential investors reinforced our view of Cepsa’s value and the strengths of the underlying business. As a long-term investor, we will consider returning to the market when we believe conditions are favourable.”

Al-Kaabi added that Cepsa “has been and continues to be a significant and valuable part of the Mubadala portfolio”.

Whitepaper

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)
Setting the Standard

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)

Are you ready to elevate your pharmaceutical operations? Download our exclusive whitepaper and discover how compliance with Good Distribution Practice (GDP) is essential for the safety and integrity of pharmaceuticals.

Free Virtual Event

Sustainability in Bioprocessing
Bioprocess Forum

Sustainability in Bioprocessing

Join us to explore hot topics in sustainable bioprocessing like the industrial potential of enzymatic synthesis, innovative biocatalysis techniques, and the use of digital twins in bioprocessing.