Business · Companies · 8 hrs ago
Cunext hires four banks to assess a possible Spanish stock market listing
Cunext Industries has begun preparing for a possible Spanish stock market listing, hiring four banks to assess the plan.
The Córdoba-based company makes cables from copper and aluminium and is led by Dámaso Quintana.
Morgan Stanley, JPMorgan and Barclays will coordinate the potential share offering, while Santander will lead the placement.
The process is at an early stage, and spring 2027 is the earliest possible window after the company closes its 2026 accounts; the timing will depend on market conditions and investor interest.
Cunext’s holding company recorded more than €2 billion in sales and €89 million in operating profit in 2025, and industry observers believe Cunext could be valued above €1 billion.
The offering could raise hundreds of millions of euros to strengthen the company’s finances and help fund a €250 million copper-recycling plant in Córdoba, as well as other strategic projects.
The banks will first gauge investor demand, and no listing is certain.
Cunext Industries has hired Morgan Stanley, JPMorgan, Barclays and Santander to assess a possible Spanish stock market listing.
The process is at an early stage, and a share sale is not expected before 2027.
Spring 2027 is the first possible window, after the company closes its 2026 accounts.
The company aims to raise several hundred million euros, though the possible listing depends on market conditions and investor interest.
Industry observers cited in the article believe Cunext could be valued at more than €1 billion.
- Who
- Cunext Industries, led by Dámaso Quintana, has hired four banks to assess a possible listing.
- What
- The company is considering a Spanish stock market listing to raise several hundred million euros.
- When
- The process is at a preliminary stage. A listing is not expected before 2027, with spring 2027 described as the first possible window.
- Where
- On the Spanish stock market.
- Why
- The market interprets the main goal as raising capital to strengthen the balance sheet and fund investment, including a €250 million recycling plant in Córdoba.
This story does not have two clearly opposing sides.
Velora Investa, the holding company that controls Cunext, recorded sales of more than €2 billion and EBITDA of €89 million.
Expansión reported that Cunext had selected four banks to assess a possible listing.
Spring 2027 is described as the first possible window for a share sale.
- Banks
- Morgan Stanley, JPMorgan and Barclays are global coordinators; Santander is senior bookrunner.
- Fundraising aim
- Several hundred million euros
- Possible valuation
- More than €1 billion, according to industry observers cited by Expansión
- Recycling plant investment
- €250 million
- Plant location
- Córdoba, Spain