Bam raises €84.5 million in new equity

26 November 2013

Dutch contractor Bam has raised €84.5 million from the issue of 24.2 million new shares at €3.50 per share. The shares were allocated on November 26 and are expected to be listed for trading on the NYSE Euronext exchange in Amsterdam, the Netherlands on 29 November.

Following the issue, Bam’s equity amounted to some 269.4 million shares, giving it a market capitalisation of some €940 million. The new shares make up about 9% of its capital. The company used an accelerated bookbuild system to sign-up potential investors prior to the issue. As a result, ING AM Insurance committed to buy 8% of the issued shares ahead of the offering.

The company said it would use the proceeds to strengthen its capital base and reduce its gearing. A company statement said, “It [the share issue] will improve BAM’s ability to compete with other large, multi-national construction companies and win tenders for new projects (such as multidisciplinary and PPP projects).

ABN Amro and ING are acted as joint global coordinators and joint bookrunners for the share issue.


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Andy Brown Editor, Editorial, UK - Wadhurst Tel: +44 (0) 1892 786224 E-mail: [email protected]
Neil Gerrard Senior Editor, Editorial, UK - Wadhurst Tel: +44 (0) 7355 092 771 E-mail: [email protected]
Catrin Jones Deputy Editor, Editorial, UK – Wadhurst Tel: +44 (0) 791 2298 133 E-mail: [email protected]
Eleanor Shefford Brand Manager Tel: +44 (0) 1892 786 236 E-mail: [email protected]