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MONTERREY, Mexico, Jan. 15, 2016 (GLOBE NEWSWIRE) -- Nemak, S.A.B. de C.V., a leading provider of innovative lightweighting solutions for the global automotive industry (“Nemak”), has won LatinFinance´s Initial Public Offering of the Year Award for 2015.
The award was based on a variety of factors including deal execution, size, complexity, innovativeness, and market significance. Nemak was announced as the winner at the publication´s Deals of the Year Awards Dinner held in New York City on January 14th.
Nemak completed Latin America’s largest initial public offering (IPO) of 2015, listing 19.3% of the company’s shares. Making its debut on the Mexican Stock Exchange, the equity listing was well-received by investors and has provided the company with the ideal platform to pursue an ambitious growth strategy in key global markets such as the US, Europe, Latin America, and Asia.
“The demand was strong, as the order book oversubscribed by about three times and we managed to secure commitments from a very solid group of investors. This IPO marks an important new chapter in Nemak’s history. It will support capacity expansions in all our markets, increase in-house capabilities, and diversify our sources of funding.” said Armando Tamez, CEO of Nemak.
Nemak sold 537.6 million common shares and priced the deal last June 30th at MXN20 each. The company raised approximately $750 million with a final valuation of seven times EBITDA.
About Nemak
Nemak is a leading provider of innovative lightweighting solutions for the global automotive industry specializing in the development and manufacturing of aluminum components for powertrain and body structure applications. As of 2014, the company employed more than 20,000 people at 35 facilities worldwide and generated revenues of U.S. $4.6 billion. For more information about Nemak, visit: www.nemak.com
MEDIA CONTACT (52) 818-748-5281 [email protected] www.nemak.com INVESTOR RELATIONS (52) 818-748-5107 [email protected] www.nemak.com/investors
