Amsterdam IPO values CTP, logistics firm, at €5.6bn

CTP NV, an owner and operator of logistics parks in Central and Eastern Europe, said on Thursday it priced shares in its initial public offering (IPO) on the Euronext stock exchange in Amsterdam at €14 each, implying a €5.6 billion stock market capitalization.

CTP is the latest company choosing to list in Amsterdam following the UK’s decision to leave the European Union.

The company, based in Utrecht and headquartered in the Czech Republic, said it sold 61 million new shares, or 15.4% of shares outstanding, raising €854.2 million, excluding over-allotment options.

CTP founder and CEO Remon Vo said: “I am proud to celebrate this milestone with my team.

“We have been passionate about industrial and logistics property for more than two decades.

“From low cost to high tech, we drive the e-commerce development, enabling cross dock and last mile.

“From a start-up owning a shed, we have grown to become a top 5 player owning Class-A property, with over 400 employees, solar on the roof and honey makers in the garden.

“As Parkmakers, we are fully BREEAM certified and carbon neutral.

“We did this thanks to our great network, the cities we invested in and the over 700 clients who helped us learn and grow this fantastic company.

“But most of all, thanks to the team, all the talented hardworking and ambitious people at CTP.

“It is time to grow big.

“We are here to accelerate, expand our footprint in Europe and on our way to hit 10 million sqm GLA by 2023.

“The CEE region, with its attractive cost structure, quality infrastructure and strategic location in Europe offers great potential.

“With our entrepreneurial, innovative and creative mindset we can expand in existing and other regions, backed by our strong client base, the additional capital and a great drive to continue on our journey.”